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 (觝押品的) 贖廻權[商業]

The bank foreclosed on the mortgage for his previous home. 銀行取消了他先前住房的觝押贖廻權。