Main Entry: fore·clos·ure Pronunciation: fOr-'klO-zh&r Function: noun 1: a legal proceeding that bars or extinguishes a mortgagor's equity of redemption in mortgaged real property —see also deficiency judgment at JUDGMENT, REDEEM, RIGHT OF REDEMPTION, STATUTORY FORECLOSURE, STRICT FORECLOSURE 1 2: the extinguishment (as under the provisions of Article 9 of the Uniform Commercial Code) of the rights of a debtor in personal property subject to a security interest by judicial proceedings and esp. by judicial sale —see also STRICT FORECLOSURE 2
[fawr-kloh-zher, fohr-] 
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