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mortgage

24 ENTRIES FOUND:

1mort·gage

noun \ˈmr-gij\

Definition of MORTGAGE

1
: a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms
2
a : the instrument evidencing the mortgage b : the state of the property so mortgaged c : the interest of the mortgagee in such property

Examples of MORTGAGE

  1. He will have to take out a mortgage in order to buy the house.
  2. They hope to pay off the mortgage on their home soon.

Origin of MORTGAGE

Middle English morgage, from Anglo-French mortgage, from mort dead (from Latin mortuus) + gage gage — more at murder
First Known Use: 15th century

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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