from The American Heritage® Dictionary of the English Language, 4th Edition
- transitive v. To deprive (a mortgagor) of the right to redeem mortgaged property, as when payments have not been made.
- transitive v. To bar an equity or a right to redeem (a mortgage).
- transitive v. To exclude or rule out; bar.
- transitive v. To settle or resolve beforehand.
- intransitive v. To bar an equity or a right to redeem a mortgage.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- v. to repossess a mortgaged property whose owner has failed to make the necessary payments
- v. to prevent from doing something
from the GNU version of the Collaborative International Dictionary of English
- transitive v. To shut up or out; to preclude; to stop; to prevent; to bar; to exclude.
from The Century Dictionary and Cyclopedia
- 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 WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- v. keep from happening or arising; make impossible
- v. subject to foreclosing procedures; take away the right of mortgagors to redeem their mortgage
"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."
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.
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.
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.
The Obama administration will not "foreclose" the idea of introducing a second stimulus package should the first one prove ineffective.
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.
A horse is a sentient being, not a home on which you can "foreclose" if the economy plunges.
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.
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.
FTC video on avoiding con-arists who "foreclose" on your home or ...