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 Word Forms

• antiforeclosure noun
• nonforeclosure noun

Word History and Origins

Origin of foreclosure¹

First recorded in 1720–30; foreclose + -ure

Example Sentences

Earlier this year, the owners defaulted on their $300-million debt, set to mature in November, and faced foreclosure.

From Los Angeles Times

The looming home foreclosure is not just a narrative device; it’s a symbol of systemic dispossession, of a profit-driven world where communities are expendable.

From Salon

This relatively obscure novel by the author of “The Day of the Locust” tells the story of Lemuel Pitkin, a Vermonter who loses his house to foreclosure.

From Salon

In fact, about 25% of cancer patients either lose their homes to foreclosure or go bankrupt.

From Salon

There’s another kind of mobility that comes about involuntarily — a result of foreclosure, eviction, or housing insecurity.

From Salon