Mortgage
/ˈmɔːr.ɡɪdʒ/noun
A legal agreement by which a bank or other lender lends money at interest in exchange for taking the title of the debtor's property.
Did you know?The term 'mortgage' comes from the Old French for 'death pledge', indicating that the pledge ends either when the debt is paid or the property is taken upon default.
Etymological Timeline
Late Latin
Latin
mortuum
“Dead”
Old French
French
mort gage
“Dead pledge”
14th Century
Middle English
mortgage
“Pledge of death”
Modern English
English
Mortgage
“Legal agreement for property loan”
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