The mortgage
Example: Mortgage provides loan secured by property for purchasing real estate
Definition
"The mortgage" is a legal agreement in finance where a loan is secured by real estate property, allowing the borrower to purchase the property while promising to repay the lender over time, typically with interest. It is essential in home buying and property investment.
Etymology
The word "mortgage" originates from Old French 'morgage,' combining 'mort' meaning dead and 'gage' meaning pledge. It literally means 'dead pledge,' referring to the pledge ending either when the debt is paid or the property is taken. Did you know? This term highlights how the pledge 'dies' when the obligation is fulfilled.
Learn to use this word actively
"The mortgage" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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