What does "foreclosure" mean?

The proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments.

Foreclosure

Common synonyms include: arrestation, debarment, determent, deterrence, discouragement, disendowment.

noun

noun ·3 syllables ·Rare ·Advanced level

Noun

1
The proceeding, by a creditor, to regain property or other collateral following a default on mortgage payments. countable, uncountable
2
the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default wordnet
3
The absence of a symbolic father for a fatherless child, as a cause for psychosis. countable, uncountable

"When Tom lost his job, he couldn't keep up his mortgage repayments and he was threatened with foreclosure."

From foreclose by analogy with closure, equivalent to fore- + closure.