foreclosure

[ fawr-kloh-zher, fohr- ]

noun

, Law.

1. the act of foreclosing a mortgage or pledge.

foreclosure

1. A proceeding in which the financer of a mortgage seeks to regain property because the borrower has defaulted on payments.

Other Words From

• anti·fore·closure noun adjective
• nonfore·closure noun

Word History and Origins

Origin of foreclosure¹

First recorded in 1720–30; foreclose + -ure

Example Sentences

Shortly after becoming attorney general, Harris joined negotiations between various state attorneys general and large mortgage institutions over improper foreclosure practices during the housing market collapse, which had displaced families across the country.

From Los Angeles Times

Vice President Kamala Harris is a former prosecutor with a complicated legacy—marked by “tough on crime” policies during her tenure as San Francisco’s district attorney and California’s attorney general, as well as her efforts to implement reforms such as job training for first-time offenders and seeking accountability from major banks for aggressive foreclosure practices.

From Slate

The federal government saved banker bonuses and shrugged off financial fraud as unemployment soared to 10 percent and more than 9 million homes were lost to foreclosure.

From Slate

County has agreed to buy the Gas Company Tower, a prominent office skyscraper in downtown L.A., for $215 million in a foreclosure sale.

From Los Angeles Times

The county of Los Angeles has tentatively agreed to buy the prominent office skyscraper near the historic Millennium Biltmore Hotel for $215 million in a foreclosure sale that could take months to complete.

From Los Angeles Times