Noun
The act or process of foreclosing; a proceeding which bars or extinguishes a mortgager's right of redeeming a mortgaged estate.
Source: Webster's dictionaryAs to what to do for the housing industry specifically and are there things that you can do to encourage housing: One is, don't try to stop the foreclosure process. Let it run its course and hit the bottom. Mitt Romney
The newest victims of the nation's foreclosure crisis are pets, which is extremely distressing to me. Margaret Cho
The moral angle to the foreclosure crisis - and, of course, in capitalism we're not supposed to be concerned with the moral stuff, but let's mention it anyway - shows a culture that is slowly giving in to a futuristic nightmare ideology of computerized greed and unchecked financial violence. Matt Taibbi
Nevada was hit hardest by the recession - highest unemployment, highest foreclosure rate, highest bankruptcy rate. Brian Sandoval
Well, actually, if you can stay in your home that is a better deal for the neighborhood. It's certainly a better deal for the person that is in their home, rather than to be on the street and for that house to go into foreclosure and become a problem for the whole community. John Garamendi
Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity. Mark Zandi