Crossword Genius

What mortgagee may do if you fail to pay for auditor and shut down (9)

Ross

I believe the answer is:

foreclose

I'm a little stuck... Click here to teach me more about this clue!

'what mortgagee may do if you fail to pay' is the definition.
The definition suggests a singular noun but the answer is not.

'auditor and shut down' is the wordplay.
'auditor' becomes 'fore' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'and' is a charade indicator (letters next to each other).
'shut down' becomes 'close' (synonyms).
'fore'+'close'='FORECLOSE'

'for' is the link.

Can you help me to learn more?

(Other definitions for foreclose that I've seen before include "Bar" , "Take back property because mortgage payments due have not been paid" .)

I've seen this clue in the Sydney Morning Herald.
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