FORECLOSURE • FREE TRANSLATOR.ORG • Definition of Foreclosure

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/fɔrklˈoʊʒər/ Listen

Foreclosure

noun

The legal proceedings initiated by a creditor to repossess the collateral for loan that is in default.

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Etymology of 'Foreclosure'

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"Foreclosure" Quotes from Famous Books

... broken up, the shops are in ruins, and there is nobody there now except that bankrupt poet, Guilford. I bought the mortgage for you, foreseeing a slump in that sort of art, and I expect to begin foreclosure proceedings and buy in the tract, which, as you will recollect, includes some fine game cover and the Ashton stream, where you wanted to establish a hatchery. This is a God-forsaken spot. I'm on my way to the poet's now. Shall I begin foreclosure proceedings ...

— Iole • Robert W. Chambers

... second mortgage on his house. He stormed around about how much he'd put into it. I told him it didn't count how much you put into a hole, it was how much you could get out. You can imagine how much that palace of his would bring in this town on a foreclosure sale—about as much as a ...

— In a Little Town • Rupert Hughes

... introduced him then to friends from distant parts of the town. He remembered how he had heard his father speak there, and how respectfully everybody had listened to him. That was in the long ago, when they had lived at the great farm. And then came the thought of the mortgage, and of Eliphalet's foreclosure, and— ...

— The Village Convict - First published in the "Century Magazine" • Heman White Chaplin

Words linked to "Foreclosure" : foreclose, proceedings, legal proceeding, proceeding