mortgage

[mortĀ·gage]

A mortgage is a loan in which the lender may use your property as payment if you don't pay back the loan. Offer your friend a mortgage for the $20 he wants . . . with his bike as security.

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A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.

Noun
a conditional conveyance of property as security for the repayment of a loan

Verb
put up as security or collateral


n.
A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.

n.
State of being pledged; as, lands given in mortgage.

v. t.
To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.

v. t.
Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.


Mortgage

Mort"gage , n. [F. mort-gage; mort dead (L. mortuus) + gage pledge. See Mortal, and Gage.] 1. (Law) A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made. &hand; It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree. Cowell. Kent. 2. State of being pledged; as, lands given in mortgage. Chattel mortgage. See under Chattel. -- To foreclose a mortgage. See under Foreclose. -- Mortgage deed (Law), a deed given by way of mortgage.

Mortgage

Mort"gage, v. t. [imp. & p. p. Mortgaged ; p. pr. & vb. n. Mortgaging .] 1. (Law) To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption. 2. Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.
Mortgaging their lives to covetise.
I myself an mortgaged to thy will.

A conveyance of property, upon condition, as security for the payment of a debt or the preformance of a duty, and to become void upon payment or performance according to the stipulated terms; also, the written instrument by which the conveyance is made.

To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption.

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Usage Examples

The people who did the collateralized mortgage obligations, sold them to pension funds, then sold them short, then bought credit default swap insurance on them, are just amazing. They are a law unto themselves.

People find themselves in ruts all the time. You're in a complacent lifestyle where you work 9 to 5 and then you add a mortgage and kids. You feel trapped, but guess what, brother? You constructed that life. If you're OK with it, there's nothing wrong with that. But if you've got unease, then you've got to make a change.

You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.

I've become a professional failure - in order to pay the mortgage I have to remain unemployed. Luckily, a disaster always seems to befall me at exactly the right moment.

The dirty little secret is that the pool man, who's making $30,000 a year, is subsidizing the million-dollar mortgage for the family whose pool he cleans. No wonder people want to get rid of tax breaks for corporate jets.

Canadians know that the promise of a recession didn't happen because of anything we did here. If you look at all the causes of the recession, problems in mortgage markets, the problems in the banking sector, the problems in government finance in countries like Greece, none of those problems were in present Canada.

Misspelled Form

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Other Usage Examples

The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.

When I was a little kid, I wrote this play about all these characters living in a haunted house. There was a witch who lived there, and a mummy. When they were all hassling him, this guy who bought the house - I can't believe I remember this - he said to them, 'Who's paying the mortgage on this haunted house?' I thought that was really funny.

The future that I will not live to see is the one my children will live in. That's my immortality. And I shouldn't try to mortgage theirs for my benefit.

Because when we think about the real facts: 44 million Americans without health insurance, millions without jobs, a 50-year high on mortgage foreclosures, an historic high the third year in a row on personal bankruptcies.

The highest-income Americans don't need tax-free health insurance, mortgage interest deductions or deferred taxation on retirement funds.

However my parents - both of whom came from impoverished backgrounds and neither of whom had been to college, took the view that my overactive imagination was an amusing quirk that would never pay a mortgage or secure a pension.

Quite frankly, Barack Obama knows what it's like to pay a mortgage and student loans. He knows what it's like to watch a beloved family member in a medical crisis and worry that treatment is out of reach. Barack Obama knows our struggles. And, my friends, he shares our values.

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