👉 Mortgage foreclosure is a phrase that commonly refers to a situation where a borrower has fallen behind on their mortgage payments and has no intention of paying them back within the terms agreed upon. In this slangy context, "mortgage foreclosure" typically means someone who owes money on a property that's been held for years but hasn't yet had the opportunity to sell or refinance it.
Example sentence: What was that thing on the news? The mortgage foreclosure on that house! Note: While "mortgage foreclosure" is not used as slang or commonly associated with vulgar expressions, its use can still be amusing in a comedic way.
