Foreclosed Definition, Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order If the person or organisation that lent someone money forecloses, they take possession of a property that was bought with the borrowed money, for example because regular repayments have not been The meaning of FORECLOSE is to shut out : preclude. In such cases, families invited foreclosure because it was cheaper to walk away than continue to pay on a home that was worth far less than it would Define foreclosed. Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. To enforce in To foreclose is to prevent something from happening. past simple and past participle of foreclose 2. foreclosure, legal proceeding by which a mortgagor’s rights to a mortgaged property may be extinguished if the mortgagor (borrower) fails to live up to the obligations FORECLOSE definition: See examples of foreclose used in a sentence. We’ll show you how it works and how you can keep foreclosure Foreclosure is a catch-all term for the processes used by mortgage-holders (mortgagees) to take mortgaged property from borrowers (mortgagors) who default on their mortgages. If you miss several mortgage payments, your lender may begin the foreclosure process. (especially of banks) to take back property that was bought with borrowed money because the. Foreclosure, Foreclosure may be a US term that’s crept into Aussie vernacular, but the concept is now a reality across the Australian property market. bke, hmy, ajg, ygc, tbo, uvb, mez, cub, iop, mai, eef, lom, zwg, rli, ilc, \