(FINANCE) (especially of banks) to take back somebody's property that was bought with borrowed money because they have not paid back the money as agreed Our beautiful village pub closed last week due to the bank foreclosing.
(FORMAL) to reject something as a possibility; to prevent something from being considered as a possibility in the future The court is trying to foreclose our case even before we present it.
- The bank foreclosed on the property.
- They are seeking to foreclose on the estate.
- Tuesday's ruling does not foreclose the possibility of winning in the appellate court.
- The banks have been reluctant to foreclose on borrowers.