foreclosure

noun

fore·​clo·​sure (ˌ)fȯr-ˈklō-zhər 

: 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 emails between father and son did not elaborate on the reasons Omar went into bankruptcy, but the U.S. Bank lawsuits alleged the action was taken to delay foreclosure proceedings on properties in his name. —James Queally, Los Angeles Times, 11 Apr. 2024

In prior cases over the last two decades, bankruptcy filings for single-asset entities often achieve little more than a temporary delay in the foreclosure proceedings. —George Avalos, The Mercury News, 11 Apr. 2024

Those include the Cambria Hotel, 503-521 N. Plankinton Ave., which was sold in December through a foreclosure auction, and the Hampton Inn and Suites, 176 W. Wisconsin Ave., which was sold in October by its lender. —Tom Daykin, Journal Sentinel, 11 Apr. 2024

The foreclosure case ultimately settled out of court, with undisclosed terms. —Ben Wieder and, Miami Herald, 2 Apr. 2024

Meanwhile, flood victims have also just become eligible for a wider range of federal help, including foreclosure protection, mortgage insurance and housing counseling. —Emily Alvarenga, San Diego Union-Tribune, 2 Apr. 2024

Kim Zolciak Biermann’s daughter was named in the foreclosure lawsuit from Ally Bank, which found the bank awarded repossession of the luxury car. —Kelly Wynne, Peoplemag, 29 Mar. 2024

Lawyers specializing in bankruptcies, foreclosures and corporate insolvency warn that getting control over, and trying to liquidate, any of the former president’s flagship properties is an uphill battle. —Rukmini Callimachi, New York Times, 24 Mar. 2024

Now, with the house in foreclosure, someone called the city to check on her. —Jake Pearson, ProPublica, 7 Mar. 2024

Word History

First Known Use

1713, in the meaning defined above

Legal Definition

foreclosure

noun

fore·​clos·​ure fōr-ˈklō-zhər 

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