Meaning & Definition of Foreclose in English

Detailed Definitions

• Definition: To take away the right to redeem a mortgage or other loan from the borrower due to default.

  Example Sentence: The bank decided to foreclose on the property after the owner missed several mortgage payments.

• Definition: To prevent someone from doing something or to eliminate options.

  Example Sentence: The investigation may foreclose any possibility of a plea deal.

Etymology

Origin: From the prefix 'fore-' meaning 'before' and 'close' from Old French 'clore', meaning to shut.

Synonyms

Common Phrases and Expressions

• foreclosure process: The legal steps a lender takes to recover the amount owed on a defaulted loan by selling or taking ownership of the property.
• foreclose on a home: To initiate legal proceedings to take possession of a home due to unpaid mortgage payments.
• foreclosure auction: A public sale of a property that has been foreclosed upon.

Translations

• Spanish: ejecución hipotecaria

• French: saisie

• German: Zwangsvollstreckung

• Russian: изъятие имущества

Related Words

• mortgage: A loan taken out to buy property, typically requiring regular payments with interest.

• lien: A legal right or interest that a lender has in the borrower's property, granted until the debt obligation is satisfied.

• default: Failure to fulfill a financial obligation, such as a loan repayment.

Slang Meanings of foreclose

• Meaning: Getting kicked out of your house

  Example Sentence: After the bank foreclosed, they were out on the street.

• Meaning: To lose everything

  Example Sentence: He went from owning a home to being foreclosed; it’s a tough break.