mortgageddon

Noun.

The time of financial hardship or failure resulting in bank foreclosure on your home.

The last and complete moment of losing one's home.

The end of home ownership by foreclosure.

My wife and I lost our jobs and could no longer afford to pay our mortgage, as we missed payments and headed toward mortgageddon.

After receiving a letter from the bank regarding impending foreclosure, I knew Mortgageddon was getting closer.