The technical meaning of the word is to wipe out a right of redemption on a property. A foreclosure generally takes place when payment on a mortgage is not made. Since a borrower retains an equitable right of redemption on property (meaning he can make all back payments and retain ownership) even though there have been no present payments, it is necessary to clear the title of this potential. To do this, a lender goes to court, demonstrates the default, and requests that a date be set where the entire amount becomes payable. After which, in the absence of payment, the lender is automatically relieved of the requirement to redeem the property back to the borrower; the debtor's right of redemption is said to be forever barred and foreclosed. This cancels all rights a borrower would have in the property and the property then belongs entirely to the lender, who is then free to possess or sell the property. The word is frequently used to refer generally to the lender's actions of repossessing and selling a property for default in mortgage payments.