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. (因未按时还款等)取消(抵押品)的赎取权,止赎 [business] [Also VERB]
The bank foreclosed on the mortgage for his previous home. [VERB + on]