Mortgaged: meaning, definitions and examples
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mortgaged
[ ˈmɔːrɡɪdʒd ]
financial obligation
Mortgaged refers to the act of securing a loan by using property as collateral. When a property is mortgaged, the lender has a claim on the property if the borrower fails to repay the loan. This term is most commonly used in real estate transactions.
Synonyms
Examples of usage
- They mortgaged their house to finance the business.
- After they both lost their jobs, they struggled to keep their mortgaged property.
- He mortgaged his apartment to buy a new car.
Translations
Translations of the word "mortgaged" in other languages:
🇵🇹 hipotecado
🇮🇳 बंधक
🇩🇪 hypothekarisch
🇮🇩 terikat hipotek
🇺🇦 іпотечний
🇵🇱 obciążony hipoteką
🇯🇵 担保に入れた
🇫🇷 hypothéqué
🇪🇸 hipotecado
🇹🇷 ipotekalı
🇰🇷 모기지 설정된
🇸🇦 مرهون
🇨🇿 založený
🇸🇰 založený
🇨🇳 抵押的
🇸🇮 hipotekarno
🇮🇸 veðsett
🇰🇿 ипотекаға қойылған
🇬🇪 გადახდილი
🇦🇿 ipotekaya qoyulmuş
🇲🇽 hipotecado
Etymology
The word 'mortgage' comes from the Old French term 'mort gaige', which translates to 'dead pledge'. The 'mort' in 'mortgage' indicates that the pledge ends or becomes void when either the obligation is fulfilled or the property is taken through foreclosure. Thus, it signifies both life and death in terms of obligations. The concept of a mortgage dates back centuries, where nobles would borrow against their lands, promising to pay back the amount borrowed by a certain date, with the risk of losing their land if they failed to do so. Over time, as societies evolved and economic systems became more complex, the modern mortgage evolved, becoming a primary means for individuals to acquire real estate.