채무자가 대출금을 갚지 못했을 때 채권자가 담보물을 압류하거나 처분하는 법적 절차.
The legal process by which a lender takes control of a property after the borrower fails to make mortgage payments.
예문:
"The bank initiated foreclosure proceedings after the homeowner missed six consecutive payments."
"Many families were forced to move out of their homes due to the sudden wave of foreclosures during the economic crisis."
"The legal team is working to help clients avoid foreclosure through debt restructuring."