Foreclosure is when you can't make the repayments (mortgage) on your house & the lender takes house back. The British equivalent terms elude me this morning (not had enough caffeine yet).
I think I'll have to bow out of thread because it is winding me up. Of course you lot are all too clever to be so deluded, but it sounds like yet more stupid tripe TV that pushes the message that all Americans are rich & shallow. When I first came to Europe I had so many people (various ages & nationalities) saying to me, very sincerely, "It's all like Dynasty where you live, isn't it?" Meanwhile my relatives can't afford to own a car and spend their time fishing aluminum cans out of the garbage to get a few pennies, hey ho. :(