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

Last month, Curzon — part of a group which also includes the Curzon cinema chain and streaming platform — was bought by U.S. private equity group Fortress from the Cohen Media Group in a foreclosure auction. —Alex Ritman, Variety, 20 Dec. 2024

Kim Zolciak and Kroy Biermann's Relationship Timeline News of the auction comes after Biermann claimed his estranged wife was refusing offers on their home despite the property being at risk of foreclosure, according to documents obtained by PEOPLE in September. —Natalia Senanayake, People.com, 4 Dec. 2024

The family sold their home in Whitehouse Station, New Jersey, and purchased their Clinton Township farm in a foreclosure. —Jenna Intersimone, USA TODAY, 27 Nov. 2024

Bills filed so far for consideration during the 2025 session include: A measure (SB 48) aimed at closing loopholes used in condo foreclosure auctions. —Jim Turner, Orlando Sentinel, 27 Nov. 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