mortgage

[ mawr-gij ]
/ ˈmɔr gɪdʒ /

noun

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.

verb (used with object), mort·gaged, mort·gag·ing.

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

1350–1400; earlier morgage, Middle English < Old French mortgage, equivalent to mort dead (< Latin mortuus) + gage pledge, gage1

OTHER WORDS FROM mortgage

o·ver·mort·gage, verb, o·ver·mort·gaged, o·ver·mort·gag·ing. re·mort·gage, verb (used with object), re·mort·gaged, re·mort·gag·ing. sub·mort·gage, noun un·mort·gage, verb (used with object), un·mort·gaged, un·mort·gag·ing.

Example sentences from the Web for mortgage

British Dictionary definitions for mortgage

mortgage
/ (ˈmɔːɡɪdʒ) /

noun

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 agreement a mortgage of £48 000
a regular payment of money borrowed under such an agreement a mortgage of £247 per month

verb (tr)

to pledge (a house or other property) as security for the repayment of a loan

adjective

of or relating to a mortgage a mortgage payment

Derived forms of mortgage

mortgageable, adjective

Word Origin for mortgage

C14: from Old French, literally: dead pledge, from mort dead + gage security, gage 1

Cultural definitions for mortgage

mortgage
[ (mawr-gij) ]

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.