foreclose

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fore|close /fɔːrkl'oʊz/ (forecloses foreclosing foreclosed)
[VERB] V on n, also V
If the person or organization that lent someone money forecloses, they take possession of a property that was bought with the borrowed money, for example because regular repayments have not been made. (BUSINESS)
The bank foreclosed on the mortgage for his previous home.

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