Mortgage - Definition, Meaning & Synonyms

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SKIP TO CONTENT mortgage /ˈmɔrgɪdʒ/ /ˈmɔgɪdʒ/ IPA guide

Other forms: mortgages; mortgaged; mortgaging

A mortgage is a loan in which the lender may use your property as payment if you don't pay back the loan. Offer your friend a mortgage for the $20 he wants...with his bike as security.

Most people obtain a mortgage when they buy a house. The bank extends the loan because of the guarantee that the house will be the bank’s to sell if the debt isn’t repaid. When you make this deal, you have mortgaged your house — the word mortgage can be used as a noun or a verb.

Definitions of mortgage

noun a conditional conveyance of property as security for the repayment of a loan see moresee less types: first mortgage a mortgage that has priority over all mortgages and liens except those imposed by law second mortgage a mortgage that is subordinate to a first mortgage chattel mortgage a loan to buy some personal item; the item (or chattel) is security for the loan type of: security interest any interest in a property that secures the payment of an obligation
verb put up as security or collateral see moresee less types: bond issue bonds on type of: owe be in debt

Pronunciation US /ˈmɔrgɪdʒ/ UK /ˈmɔgɪdʒ/ Cite this entry Style: MLA

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Copy citation DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘mortgage'. Views expressed in the examples do not represent the opinion of Vocabulary.com or its editors. Send us feedback Word Family

Vocabulary lists containing mortgage

Richard Nixon's "Checkers" Speech (1952)

In September, 1952, Richard Nixon, a young senator from California, was nominated to run for Vice President. Days later, however, he was accused of accepting funds from campaign donors to use for personal expenses. Nixon chose to use the new medium of television to defend himself. In a televised speech, he admitted to receiving one gift — a cocker spaniel named Checkers. He explained that his two young daughters loved the dog and would not give it up. The speech was a tremendous success, and Nixon went on to serve two terms as Vice President. Ironically, another television performance, a debate with John Kennedy in 1960, cost him the election that year. Nixon was elected President in 1968, but ultimately resigned in the wake of the Watergate scandal.

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Do the words savings and income interest you? Then you'll profit from learning these personal finance terms. Review credit, stocks and bonds, loans, bankruptcy, and much more. This list is bound to be a good investment.

Dwight D. Eisenhower, "The Military-Industrial Complex" (1961)

As he prepared to leave the office of President in 1961, Dwight D. Eisenhower gave a farewell speech in which he warned Americans about the growing influence of what he called the "military-industrial complex." Eisenhower, the former World War II general and D-Day Commander, feared the increasing power of corporations that had grown to supply the United States with military equipment and weapons.

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