- a conveyance of an interest in property as security for the repayment of money borrowed.
- the deed by which such a transaction is effected.
- the rights conferred by it, or the state of the property conveyed.
- Law. to convey or place (real property) under a mortgage.
- to place under advance obligation; pledge: to mortgage one's life to the defense of democracy.
Origin of mortgage
Examples from the Web for mortgaged
The debt load is so vast that every asset of the club—including its training ground—has been mortgaged.Manchester United: The Glazer Family’s Bad Play
August 6, 2012
On the other hand, if they lose their bid to unseat Obama, they will have mortgaged their future for nothing at all.It’s Now or Never for GOP’s 2012 Agenda
February 29, 2012
This has all been done relatively quietly while politicians have mortgaged our futures.Tea Party Takes On Boehner
July 27, 2011
After discovering Celine in 1981, Angelil mortgaged his home to produce her first record.Can Celine Dion Save Vegas?
Tony Doukopil, Ramin Setoodeh
March 13, 2011
So I mortgaged my place here in LA and bought an apartment there.Will This Book Save Your Life?
March 2, 2009
That week he mortgaged our house on the Heights for five thousand dollars.The Harbor
Hindscarth was mortgaged to the last ear of corn, and then it was the turn for Coledale.A Son of Hagar
Sir Hall Caine
Now it was mortgaged to the top of the manor-house aerial-mast.Space Viking
Henry Beam Piper
Many farms were mortgaged, and now and then one was sold to satisfy creditors.The War of Independence
The property belongs nominally to us, but it is mortgaged to the full of its value.Miss Mackenzie
- an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money
- the deed effecting such an agreement
- the loan obtained under such an agreementa mortgage of £48 000
- a regular payment of money borrowed under such an agreementa mortgage of £247 per month
- to pledge (a house or other property) as security for the repayment of a loan
- of or relating to a mortgagea mortgage payment
Word Origin and History for mortgaged
late 14c., morgage, "conveyance of property as security for a loan or agreement," from Old French morgage (13c.), mort gaige, literally "dead pledge" (replaced in modern Frech by hypothèque), from mort "dead" (see mortal (adj.)) + gage "pledge" (see wage (n.)). So called because the deal dies either when the debt is paid or when payment fails. Old French mort is from Vulgar Latin *mortus "dead," from Latin mortuus, past participle of mori "to die" (see mortal (adj.)). The -t- restored in English based on Latin.
late 15c., from mortgage (n.). Related: Mortgaged; mortgaging.
A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.