mortgage

Meanings

• noun

  A loan taken out by a borrower from a lender to buy real estate or property using the property itself as collateral.

  - "John took out a mortgage to buy his dream house."
  - "The couple struggled to make their mortgage payments."

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Pronunciation

1. /ˈmɔɹ.ɡɪdʒ/
   
   
   
   Source: "https://commons.wikimedia.org/w/index.php?curid=1762720"

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Rhymes

Words rhyming with mortgage
borrowage , pledgeage

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Variants

List of all variants of mortgage that leads to same result
mortgage , mortgages , mortgaged , mortgaging , mortgage her future , mortgage his future , mortgage one's future , mortgage the future , mortgage the/one's future , mortgage their future , adjustable rate mortgage , adjustable rate mortgages , first mortgage , first mortgages , reverse annuity mortgage , reverse mortgage , reverse mortgages , second mortgage , second mortgages , variable rate mortgage , variable rate mortgages

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Etymology

origin and the way in which meanings have changed throughout history.

From Old French 'mort' meaning death and 'gage' meaning pledge or payment. A mortgage is essentially a 'death pledge' where the property is used as collateral.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first recorded use of the term 'mortgage' in English was in 1538.

2. In the United States, the average length of a mortgage is 30 years.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Equity: The difference between the market value of a property and the amount still owed on its mortgage.

2. Amortization: The process of paying off a mortgage with regular payments, usually over a fixed term.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

The mortgage industry plays a significant role in the economy, particularly in the real estate sector. Mortgages have been a common theme in literature and art, representing the American Dream and the concept of home ownership.

How to Memorize "mortgage"

1. visualize
   

   - Visualize a person signing papers at a closing table, handing over a check for a down payment, and receiving the keys to their new home.

2. associate
   

   - Associate the word 'mortgage' with the idea of buying a home and the security and stability it represents.

3. mnemonics
   

   - Remember the acronym 'M-O-N-E-Y' to help remember the word: Mortgage, Own, Necessary, Equity, You.

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