Definition

The legal process in which a lender takes possession of a property when the borrower fails to make mortgage payments.

Example

The bank initiated foreclosure proceedings after the homeowner missed several payments.

Conversation

Did you hear about the foreclosure on that house down the street?

Yeah, it's such a shame; it was a really nice place.

I know! I wonder what happened to the family that lived there.

I hope they found somewhere else to go after the foreclosure.

Synonyms & Antonyms

Root Explanation

Foreclosure → It is formed from "fore-" (meaning before) and "closure" (from Latin "claudere", meaning to close). The word refers to the act of closing off a property before the owner can reclaim it, typically due to failure to pay a mortgage.

Memory Tip

Think of 'fore-' meaning 'before' and 'closure' meaning 'to close' — this helps you remember that foreclosure is about closing off a property before the owner can regain it.

Visually Confused Words