foreclose — to take possession of a mortgaged property when the borrower fails to keep up their mortgage payments
Part of speech: VERB
Definition: to take possession of a mortgaged property when the borrower fails to keep up their mortgage payments
Pronunciation (IPA): /fɔːrˈkloʊz/
Korean meaning: (대출 상환 불능 시) 담보물을 압류하다, 저당권을 행사하다
Korean pronunciation: 포**클로**즈
Example Sentences
- After losing his job, Tom feared the bank would foreclose on his dream house that he bought with his lottery winnings.
- The coffee shop owner joked that if customers kept stealing spoons, he'd foreclose on their caffeine privileges.
- Her decision to drop out of medical school foreclosed many career opportunities in healthcare.
foreclose
VERB//fɔːrˈkloʊz//
to take possession of a mortgaged property when the borrower fails to keep up their mortgage payments
a stern-looking real estate agent in a business suit holds official papers while pointing toward a family standing by their front door. The agent's other hand gestures toward a large truck in the driveway loaded with the family's belongings. The family of three looks devastated as they realize they must leave their home immediately. Behind them, movers continue loading furniture and boxes onto the truck. A neighbor peers over the fence with a concerned expression watching the sad scene unfold. a bank taking possession of a mortgaged property when the borrower fails to keep up their mortgage payments
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🌳Etymology
Origin
From Latin 'foris' meaning 'outside' and 'claudere' meaning 'to close or shut.' The word literally meant 'to shut out from the outside,' which evolved into the legal concept of excluding someone from property ownership.
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Start for Free📝Examples
“After losing his job, Tom feared the bank would foreclose on his dream house that he bought with his lottery winnings.”
“The coffee shop owner joked that if customers kept stealing spoons, he'd foreclose on their caffeine privileges.”
“Her decision to drop out of medical school foreclosed many career opportunities in healthcare.”
“The vampire was disappointed to learn that garlic allergies could foreclose his chances of enjoying Italian cuisine.”
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