foreclosurenoun [ C or U ]
uk/fɔːˈkləʊʒər/us/fɔːrˈkloʊʒɚ/FINANCE, PROPERTY the act of taking back property that was bought with borrowed money because the money was not being paid back as agreed:
There are concerns about the current housing market, where prices are falling and foreclosures are rising.
go into/enter/face foreclosure When a number of homes go into foreclosure, neighborhood home values take a heavy hit.
home/mortgage foreclosures
a foreclosure filing/notice/suit
a foreclosure auction/sale