FORECLOSE

foreclose, vb. To terminate a mortgagor’s interest in property; to subject (property) to foreclosure proceedings. [Cases: Mortgages 320. C.J.S. Mortgages §§ 490–491, 495, 559, 568.] “Should the mortgagor default in his obligations under the mortgage, the mortgagee will seek to ‘foreclose’, — i.e., ‘end’ or ‘close’ the mortgagor’s rights in the security. After taking the […]