Is there a difference between pre-closure and foreclosure?

There is no major difference between pre-closure and foreclosure of a loan - both terms refer to the same process of early and voluntary closure of the loan by making the full payment before the end of the tenure.

Pre-closure is sometimes used as it signifies closing the loan 'pre' or 'before' the original tenure. But foreclosure is a more commonly used term, especially in financial documents, news and by banking professionals.