foreclose

verb

Meaning

Take legal action to seize a property because the owner has failed to make required loan payments.

Examples

The bank will foreclose on the property if the overdue mortgage is not paid by the end of the month.
Many families were forced to leave their homes after the lender decided to foreclose during the economic downturn.

Synonyms: seize, repossess, confiscate, expropriate

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foreclose

verb

Pronunciation: /fɔːrˈkloʊz/

Definition

Take legal action to seize a property because the owner has failed to make required loan payments.

Examples

The bank will foreclose on the property if the overdue mortgage is not paid by the end of the month.
Many families were forced to leave their homes after the lender decided to foreclose during the economic downturn.
He struggled to find a new place to live after his house was foreclosed upon last winter.

How to Use foreclose

foreclose on (prepositional phrase): To take legal action against a specific property or borrower. — "The lender had no choice but to foreclose on the estate."
foreclose on a mortgage (collocation): The specific legal act of ending a mortgage agreement due to default. — "The bank moved to foreclose on the mortgage after months of missed payments."

Synonyms of foreclose

Words with a similar meaning to foreclose:

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