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mortgage

Pronunciation: /ˈmɔːɡɪd͡ʒ/

The English word “mortgage” has 4 meanings listed here.

noun

  1. A legal agreement in which a borrower pledges real property as collateral for a loan used to purchase or refinance that property.
  2. The state of being pledged.

verb

  1. To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.
  2. To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.

Etymology

From Middle English morgage and Middle French mortgage, from Anglo-Norman morgage, from Old French mort gage (“dead pledge”), after a translation of judicial Medieval Latin mortuum wadium, with wadium from Frankish *wadi (“wager, pledge”). Compare gage and also wage. So called because rents and profits from the land were owed to the lender for as long as the gage existed (comparable to interest…

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Definitions are from Wiktionary, extracted by Kaikki.org, and are available under the CC BY-SA 4.0 licence.