Foreclose
/ˌfɔːˈkləʊz/
verb
To repossess a mortgaged property whose owner has failed to make the necessary payments; used with on.
“They have to move out of their house because the bank foreclosed on their mortgage.”
To cut off (a mortgager) by a judgment of court from the power of redeeming the mortgaged premises.
To shut up or out; to prevent from doing something.