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vb. To shut up or out; to preclude; to stop; to prevent; to bar; to exclude. To foreclose a mortgager (Law), to cut him off by a judgment of court from the power of redeeming the mortgaged premises, termed his equity of redemption.
- To foreclose a mortgage, (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. To terminate a mortgagor's interest in property. The mortgagee’s sales of the mortgaged property
- Seizure of collateral by a creditor when a default under a loan agreement occurs.
- n. The act or process of foreclosing; a proceeding which bars or extinguishes a mortgager's right of redeeming a mortgaged estate.
