verb

definition

To repossess a mortgaged property whose owner has failed to make the necessary payments; used with on.

example

They have to move out of their house because the bank foreclosed on their mortgage.

definition

To cut off (a mortgager) by a judgment of court from the power of redeeming the mortgaged premises.

noun

definition

An act of foreclosure.

Examples of foreclosing in a Sentence

Garnishing wages, attacking bank accounts, and foreclosing on real estate are all used to force payment to affected children.

Fannie Mae and affiliate mortgage lenders attempt to avoid foreclosing on homes whenever possible because it is a costly process.

The seller could be the owner, a trustee or the foreclosing lender.

The process of foreclosing on a home is a costly one for everyone involved, so in some cases it's financially better for the lender to work with the borrower and offer a modification or full refinance.

Also keep in mind that despite the hefty costs associated with foreclosing on a home, some lenders simply aren't willing to work with borrowers.

Many banks are willing to negotiate, or agree to a short sale, in order to avoid foreclosing on a home.

He had asserted that, owing to the habit of foreclosing small mortgages, " any one with a hundred gulden could gobble up a peasant a year."

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