Word
foreclosure
Phoneticsfore·clo·sure
US/fɔɹˈkɫoʊʒɝ/
UK/fɔːklˈəʊʒɐ/
Definitions
01legal repossession of property
n. the legal process where a bank takes away a house or building because the owner has stopped making payments.
n. the legal procedure by which a mortgagee or other lienholder terminates a mortgagor's equitable right of redemption after a default.
“After he lost his job, the bank started the foreclosure on his house.”
“The sudden increase in interest rates led to a wave of foreclosures across the suburban housing market as homeowners struggled to meet their monthly obligations.”
Technical
Usage
Often used with the verbs 'face', 'start', or 'prevent'.
Synonyms
02psychological term
n. a technical term in psychology about how a child's mind develops without a father figure.
n. a psychoanalytic concept, particularly in Lacanian theory, referring to the exclusion of a fundamental signifier from the subject's symbolic universe.
“The professor explained how foreclosure differs from simple repression in psychology.”
“In his seminar, the analyst discussed foreclosure as a primary mechanism in the development of psychosis, distinguishing it from neurotic repression.”
Technical · Academic
Usage
Primarily used in the context of Lacanian psychoanalysis.
Synonyms
Real-World Examples
“As long-term office mortgages mature in a weaker leasing and higher-interest-rate environment, distressed buildings are increasingly unable to refinance, leading to a steady stream of foreclosures and discounted sales.” Etymology
From foreclose by analogy with closure, equivalent to fore- + closure.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
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