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Meaning of “foreclose” in the English Dictionary

"foreclose" in British English

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forecloseverb

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 ​borrowedmoney because the ​money was not being ​paid back as ​formallyagreed: 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 ​aggressivestanceseems to have foreclosed any ​chance of ​diplomaticcompromise.
foreclosure
noun [U] uk   /fɔːˈkləʊ.ʒər/  us   /fɔːrˈkloʊ.ʒɚ/ specialized
(Definition of foreclose from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"foreclose" in American English

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forecloseverb [I]

 us   /fɔrˈkloʊz, foʊr-/
(esp. of ​banks) to take ​control of the ​property of owners because they did not ​pay back the bank’s ​moneyborrowed to ​pay for it
(Definition of foreclose from the Cambridge Academic Content Dictionary © Cambridge University Press)

"foreclose" in Business English

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forecloseverb

uk   /fɔːˈkləʊz/  us   /fɔːrˈkloʊz/
[I or T] FINANCE, PROPERTY if a ​company, especially a ​bank, forecloses, it ​takes back ​property that was ​bought with ​borrowedmoney because the ​money was not being ​paid back as ​agreed: Without written ​proof of ​defaults on ​payments, the ​bank has no ​right to foreclose.foreclose on a home/loan/property The ​buildingsociety will foreclose on a ​loan if the ​payment is four to five months late.
[T] to prevent something from being considered as a possibility in the future: foreclose competition/a market/options There was ​evidence of ​suspectedmarket sharing ​agreementsaimed at foreclosing ​competition and preventing ​access to the ​market.be foreclosed from (doing) sth EC ​operators are foreclosed from ​bidding in Massachusetts on non-trade ​grounds.
(Definition of foreclose from the Cambridge Business English Dictionary © Cambridge University Press)
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“foreclose” in Business English

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