foreclosure

noun
fore·​clo·​sure | \ (ˌ)fȯr-ˈklō-zhər How to pronounce foreclosure (audio) \

Definition of foreclosure

: an act or instance of foreclosing specifically : a legal proceeding that bars or extinguishes a mortgagor's right of redeeming a mortgaged estate

Examples of foreclosure in a Sentence

Recent Examples on the Web The notice of sale in the foreclosure said the family owed a total of $112,339. oregonlive, "Massive fundraising for Red House family attracts supporters and critics," 20 Dec. 2020 That gap is glaring at a time when a growing number of Americans are facing foreclosure or eviction as the coronavirus pandemic has forced millions out of work and magnified racial disparities in health, job security, and income. Charisse Jones, USA TODAY, "Black homeowners are twice as likely to have to return to renting than whites," 16 Nov. 2020 The Palmer House Hilton hotel in Chicago now is facing a bank foreclosure. Eric Morath, WSJ, "The Covid Economy Carves Deep Divide Between Haves and Have-Nots," 5 Oct. 2020 In other rulings, Lagoa sided with big business, by limiting the options of homeowners facing foreclosure, blocking an effort to create a higher minimum wage in Miami, and ruling against employees who filed lawsuits against Uber and Caterpillar. David Rohde, The New Yorker, "How Trump’s Supreme Court Maneuver Could Dangerously Increase the Powers of the President," 22 Sep. 2020 Wells Fargo typically went through the Summit County sheriff to conduct foreclosure sales over the past five years, the county claims. Leia Larsen, The Salt Lake Tribune, "Summit County says Wells Fargo illegally sold disputed property to Hideout developers," 2 Sep. 2020 The order does not apply to homeowners who are unable to pay their mortgage and are facing foreclosure. Rebecca Hennes, Houston Chronicle, "Houston coronavirus updates: What you need to know for September 2," 2 Sep. 2020 Evans said homeowners who are still struggling with their mortgage or facing possible foreclosure may still find assistance. Anna Bahney, CNN, "Fannie and Freddie extend freeze on foreclosures and some evictions," 27 Aug. 2020 Mazza Gallerie, the mall anchored by Neiman Marcus, facing foreclosure, was sold at auction this summer. Washington Post, "Friendship Heights, once known as a hub for high-end shopping, is struggling as the pandemic accelerates an exodus of retailers," 20 Aug. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'foreclosure.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of foreclosure

1713, in the meaning defined above

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Time Traveler for foreclosure

Time Traveler

The first known use of foreclosure was in 1713

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Statistics for foreclosure

Last Updated

26 Feb 2021

Cite this Entry

“Foreclosure.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/foreclosure. Accessed 7 Mar. 2021.

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More Definitions for foreclosure

foreclosure

noun
fore·​clos·​ure | \ fōr-ˈklō-zhər How to pronounce foreclosure (audio) \

Legal Definition of foreclosure

1 : a legal proceeding that bars or extinguishes a mortgagor's equity of redemption in mortgaged real property — see also deficiency judgment at judgment, redeem, right of redemption, statutory foreclosure, strict foreclosure sense 1
2 : the extinguishment (as under the provisions of Article 9 of the Uniform Commercial Code) of the rights of a debtor in personal property subject to a security interest by judicial proceedings and especially by judicial sale — see also strict foreclosure sense 2

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More from Merriam-Webster on foreclosure

Nglish: Translation of foreclosure for Spanish Speakers

Britannica English: Translation of foreclosure for Arabic Speakers

Britannica.com: Encyclopedia article about foreclosure

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