[ˈmɔːɡɪdʒ], (Noun)

Definitions:
- a legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt
(e.g: I put down a hundred thousand in cash and took out a mortgage for the rest)


Phrases:

Origin:
late Middle English: from Old French, literally ‘dead pledge’, from mort (from Latin mortuus ‘dead’) + gage ‘pledge’

[ˈmɔːɡɪdʒ], (Verb)

Definitions:
- convey (a property) to a creditor as security on a loan
(e.g: the estate was mortgaged up to the hilt)


Phrases:

Origin:
late Middle English: from Old French, literally ‘dead pledge’, from mort (from Latin mortuus ‘dead’) + gage ‘pledge’