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English definition of “foreclose”

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foreclose

verb uk   /fɔːˈkləʊz/ us    /fɔːrˈkloʊz/

foreclose verb (TAKE POSSESSION)

[I or T] specialized finance & economics, law (especially of banks) to take back property that was bought with borrowed money because the money was not being paid back as formally agreed: The bank is threatening to foreclose on the family's house.

foreclose verb (PREVENT)

[T] formal to prevent something from being considered as a possibility in the future: The leader's aggressive stance seems to have foreclosed any chance of diplomatic compromise.
foreclosure
noun [U] uk   /-ˈkləʊ.ʒər/ us    /-ˈkloʊ.ʒɚ/ specialized
(Definition of foreclose from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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