Mortgage

Quick meaning: Mortgage is a noun meaning (law, real estate) A legal agreement in which a borrower pledges real property as collateral for a loan used to purchase or refinance that property.

Meaning

(law, real estate) A legal agreement in which a borrower pledges real property as collateral for a loan used to purchase or refinance that property.

More Meanings

1. (transitive, figurative) To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.
2. (transitive, law) 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.
3. (obsolete) The state of being pledged.

Example Sentences

lands given in mortgage

to mortgage a property, an estate, or a shop

We mortgaged our house in order to start a company.

She mortgaged her future for the pleasures of the relationship with the sculptor, a relationship she knew would be short.

Word Forms

• mortgages
• morgage
• mortgaging
• mortgaged

Related Words

Related dictionary entries include mortgagee, collateralized, loan, lending, contract, financing.

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