Translate mortgage | into French | into German | into Italian | into Spanish Definition of mortgage
noun
the charging of real (or personal) property by a debtor to a creditor as security for a debt (especially one incurred by the purchase of the property), on the condition that it shall be returned on payment of the debt within a certain period. a deed effecting the conditions of a mortgage. a loan obtained through the conveyance of property as security:I put down a hundred thousand in cash and took out a mortgage for the rest
verb
[with object] convey (a property) to a creditor as security on a loan:the estate was mortgaged up to the hilt expose to future risk or constraint for the sake of immediate advantage:some people worry that selling off federal assets mortgages the country’s future
Remember that
mortgage is spelled with a
t after the
r, although it is not heard when you say the word.
