Demortgage
/dɪˈmɔːr.ɡɪdʒ/noun
A term referring to the cancellation or release of a mortgage obligation.
Did you know?The concept of a 'mortgage' once symbolized a pact with death, where your home could be claimed if debts weren't paid.
Etymological Timeline
Proto-Indo-European
PIE
*mr̥tós
“dead, to die”
Latin
Latin
mortuus
“dead, deceased”
Old French
Old French
mortgage
“death pledge, a pledge that dies when the debt is paid or the property is forfeited”
Middle English
Middle English
mortgage
“a legal agreement for the pledge of property until a debt is settled”
Modern English
English
mortgage
“a loan secured against property, which can lead to foreclosure if payment obligations are not met”