What is the original meaning of mortgage?
From where did the word “mortgage” come? The word comes from Old French morgage, literally “dead pledge,” from mort (dead) and gage (pledge). According to the online etymology dictionary, it is so called because the deal dies when the debt is paid or when payment fails.
Why is a mortgage a death pledge?
mortgage (n.) late 14c., from Old French morgage, literally “dead pledge,” from mort “dead” + gage “pledge.” So called because the deal dies when the debt is paid or when payment fails. So called because the deal dies either when the debt is paid or when payment fails.
What does being mortgage mean?
When you get a mortgage, your lender gives you a set amount of money to buy the home. You agree to pay back your loan – with interest – over a period of several years. You don’t fully own the home until the mortgage is paid off.
What is a synonym for mortgage?
synonyms for mortgage
- contract.
- debt.
- deed.
- pledge.
- title.
- homeowner’s loan.
Where did the word death originate?
The word death comes from Old English dēaþ, which in turn comes from Proto-Germanic *dauþuz (reconstructed by etymological analysis). This comes from the Proto-Indo-European stem *dheu- meaning the “process, act, condition of dying”.
What is the Latin root of mort?
-mort-, root. -mort- comes from Latin, where it has the meaning “death. ” This meaning is found in such words as: amortize, immortal, immortality, immortalize, morgue, mortal, mortality, mortgage.
What is the origin of the word mortgage?
The English word mortgage is derived from the Old French : mort, dead (from Vulgar Latin *mortus, from Latin mortuus, past participle of mor, to die; see mer- in Indo-European roots) + gage, pledge (of Germanic origin). A mortgage is a contract specifying the terms you have to sign in order to get a loan;
What is the meaning of the word mortgage?
Definition of mortgage. (Entry 1 of 2) 1 : a conveyance (see conveyance sense 2a) of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms took out a mortgage in order to buy the house. 2a : the instrument evidencing the mortgage.
What is the history of the word mortgage?
The origins of the word mortgage come from the French words mort (death), and gage (a pledge). The word mortgage came into Middle English by way of Middle and Old French.
What is a loan program?
A loan product created by a lender and offered to borrowers. It has a specific set of features and costs, which must be disclosed to consumers before they can be bound by its terms. In mortgage lending, there are many programs available and many combinations of features and requirements. Mortgage loan programs can be defined in many ways.
