- The legal process which prevents or eliminates a borrower's right to reclaim mortgaged real estate
- The process where a debtor's rights in personal property secured by a loan are terminated, typically through legal procedures and particularly by sale ordered by a court
- After missing several payments, the bank initiated foreclosure on the family's home.
- Foreclosure proceedings can be lengthy and often leave the debtor with no options to reclaim their property.
- Despite their best efforts to catch up on their loan payments, the couple faced foreclosure of their beloved home.