Definitions

1. verb

to deprive someone of their home or property by seizing it due to nonpayment of a mortgage or other debt

“The bank had to foreclose on the house because the owners couldn’t afford the mortgage payments.”

2. verb

to cancel or terminate a loan or other agreement

“The bank decided to foreclose on the loan and demand immediate repayment.”

3. verb

to shut off or stop something, especially a river or a flow of water

“The dam was built to foreclose the river and prevent flooding.”

4. noun

the act of depriving someone of their home or property by seizing it due to nonpayment of a mortgage or other debt

“The foreclosure of the house was a result of the owners’ financial difficulties.”