Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- intransitive verb To enforce (a lien, deed of trust, or mortgage) in whatever manner is provided for by law.
- intransitive verb To bring a suit to prevent a mortgagor from redeeming (a property) by paying any outstanding debt.
- intransitive verb To exclude or rule out; bar.
- intransitive verb To settle or resolve beforehand.
- intransitive verb To enforce a lien, deed of trust, or mortgage as permitted by law.
from The Century Dictionary.
- To shut out; exclude; prevent.
- In law: To shut out by a judicial decree from further opportunity to assert a right or claim: said of the process by which all persons previously having right to redeem property from a forfeiture for non-payment of a debt are finally cut off from that right: as, to
foreclose a mortgager of his equity of redemption. - Hence— To enforce, as a mortgage, by shutting out in due process of law a mortgager and those claiming under him from the right to redeem the property mortgaged.
- To enforce a mortgage.
from the GNU version of the Collaborative International Dictionary of English.
- transitive verb To shut up or out; to preclude; to stop; to prevent; to bar; to exclude.
- transitive verb (Law) to cut him off by a judgment of court from the power of redeeming the mortgaged premises, termed his
equity of redemption . - transitive verb (not technically correct, but often used to signify) the obtaining a judgment for the payment of an overdue mortgage, and the exposure of the mortgaged property to sale to meet the mortgage debt.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- verb to
repossess amortgaged property whose owner has failed to make the necessary payments - verb to prevent from doing something
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- verb keep from happening or arising; make impossible
- verb subject to foreclosing procedures; take away the right of mortgagors to redeem their mortgage
Etymologies
from The American Heritage® Dictionary of the English Language, 4th Edition
from Wiktionary, Creative Commons Attribution/Share-Alike License
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Examples
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We also believe that Fannie should have guidelines allowing servicers to proceed on a foreclosure only when its legal entitlement to foreclose is clearly documented.
Dems To Fannie Mae: Why Are You Feeding Foreclosure Mills? The Huffington Post News Team 2010
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We also believe that Fannie should have guidelines allowing servicers to proceed on a foreclosure only when its legal entitlement to foreclose is clearly documented.
Dems To Fannie Mae: Why Are You Feeding Foreclosure Mills? The Huffington Post News Team 2010
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"They granted you a mortgage, and that's recorded in the land records, and the company that has the mortgage and can foreclose is MERS."
Lawmaker Questions Power to Foreclose Robbie Whelan 2010
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Meanwhile, the lender doesn't have to foreclose, which is costly and usually results in a vacant home they have to maintain until they can sell.
The Full Feed from HuffingtonPost.com Loren Berlin 2012
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Town Counsel Gerald Moody said the town could then foreclose, which is uncommon because people will usually find the money to keep their homes and property.
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The Obama administration will not "foreclose" the idea of introducing a second stimulus package should the first one prove ineffective.
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Scalia didn't seek to "foreclose" the "legislative opportunity" of anyone, but to not to have SCOTUS interfere with constitutional choice made directly by the people of Colorado.
Barney Frank: Justice Scalia "makes it very clear that he's angry, frankly, about the existence of gay people." Ann Althouse 2009
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A horse is a sentient being, not a home on which you can "foreclose" if the economy plunges.
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Trouble was, Glimcher couldn't force Capco to foreclose, meaning that walking away would have sacrificed an asset while leaving $42 million of debt on Glimcher's books.
Mall Maneuver 2008
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Being a victim of Western literature, one knew that banks were bad, or could be bad, especially when they did something nasty called 'foreclose' on a ranch or a farm or some other rural property in Tennessee or Nebraska.
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