foreclose

1. V-I 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. 取消 (抵押品的) 赎回权[商业]

The bank foreclosed on the mortgage for his previous home. 银行取消了他先前住房的抵押赎回权。