See Also: Second Mortgage(money)
Mortgage UK(finance)
Best mortgage(finance)
Mortgage(money)
First mortgage(money)
MORTGAGE(finance)
mortgage(dictionary)
mortgage(encyclopedia)
First mortgage(finance)
Mortgage(law)

mortgage (iou)



mortgage noun & verb. LME.
[Old French, lit. 'dead pledge', from mort dead + gage GAGE noun1.]
A. noun.
1. The charging of real or personal property by a debtor in favour of a creditor as security for a money debt (esp. one incurred by the purchase of the property), on the condition that the property be discharged on payment of the debt within a certain period; a deed effecting this; a debt secured by this; a loan resulting from this. LME.
in mortgage mortgaged. puisne mortgage: see PUISNE adjective 3. second mortgage: see SECOND adjective.
V. S. Pritchett Chekhov borrowed four thousand roubles..and got a ten-year mortgage. What Mortgage A mortgage is a means to..get and keep a roof over your head.
2. fig. A pledge, a bond. LME.
Comb.: mortgage rate the rate of interest charged on a loan secured by mortgage; freq., a common rate of interest on such loans agreed among building societies etc.
B. verb trans.
1. Make over (property, esp. a house or land) by or through a mortgage. LME.
R. K. Narayan He would get his house back from the man to whom he had mortgaged it. J. Wilcox If your house is mortgaged, the bank should have those records.
2. fig. Pledge (to); make liable; establish a claim to (an income etc.) in advance. Usu. in pass. L16.
Economist The hoary argument that Canada is being mortgaged to Wall Street bankers.
mortgageable adjective M19.
mortga'gee noun the creditor in a mortgage, now usu. a bank or building society L16.
mortgager noun = mortgagor M17.
mortgagor noun a person who mortgages property; the debtor in a mortgage: L16.