VERB
(因未按时还款等)取消(抵押品)的赎取权，止赎
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.
例句
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。