Copyright © Philip M. Parker, INSEAD. Terms of Use.
Definition: Mortgage |
MortgageNoun1. A conditional conveyance of property as security for the repayment of a loan. Verb1. Put up as security or collateral. Source: WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved. |
Date "mortgage" was first used: sometime in the late 14th century. (references) |
| Domain | Definition |
19th Century Satire | From Fr. mort, death, and Eng. gag, to choke. A lawyer's invention for choking property to death. Source: Foolish Dictionary, 1904. |
Dream Interpretation | To dream that you give a mortgage on your property, denotes that you are threatened with financial upheavals, which will throw you into embarrassing positions. To take, or hold one, against others, is ominous of adequate wealth to liquidate your obligations. To find yourself reading or examining mortgages, denotes great possibilities before you of love or gain. To lose a mortgage, if it cannot be found again, implies loss and worry. Source: Ten Thousand Dreams Interpreted .... |
Finance | A legal agreement where someone lends money to another person so that he can buy a property, the property being the security. Source: European Union. (references) |
| A security granted to a lender by conveying to him the rights in immovable property, also on ships, thus providing him with the means of recovering the amount advanced by him. Source: European Union. (references) | |
| A legal document by which real property is pledged as security for the repayment of a loan; the pledge is canceled when the debt is paid in full. (references) | |
Literature | Mortgage (See Welsh Mortgage .). Source: Brewer's Dictionary. |
Source: compiled by the editor from various references; see credits. | |
(From Wikipedia, the free Encyclopedia)
A mortgage, currently, is a device used to create a lien on real estate by a contract.Please note: Wikipedia does not give legal advice
At common law, a mortgage was a conveyance that on its face was absolute and conveyed a fee simple estate, but which was in fact conditional, and would be of no effect if certain conditions were met --- usually, but not necessarily, the payment of a debt by the original landowner. Hence the word "mortgage," Law French for "dead pledge;" that is, it was absolute in form and in theory required no further steps to be taken by the creditor.
In many U. S. states, however, a mortgage has been converted by statute to a device for creating a security interest in land. When the landowner fails to perform on the obligation secured by the mortgage, the mortgage holder must file a foreclosure to cause the property to be sold at auction, usually by the sheriff. Since mortgage debt is often the largest debt owed by the debtor, banks and other mortgage lenders run title searches of the real property to make certain that the lien of the mortgage is prior to anyone else's claim.
Mortgage lending is a major category of the business of finance in the United States of America. Mortgages are commercial paper and can be conveyed and assigned freely to other holders. In the USA the Home Owners Loan Corporation, the Federal Housing Administration administer the programmes colloquially known as "Ginnie Mae" and "Freddie Mac" to foster mortgage lending and thus to encourage home ownership and construction.
See also : Deed, mortgagee, mortgagor, pre-qualification and pre-approval
External links
- Mortgage Calculator with dynamic diagrams. This mortgage calculator can be used to figure out monthly payments of a home mortgage loan. It factors in PMI (Private Mortgage Insurance), town property taxes, and their effect on the total monthly mortgage payment. The calculations are visualized with the aid of two diagrams, displaying the remaining balance and monthly paid interest vs. monthly paid principal respectively, both on a month/money coordinate system.
- MortgageSorter. This recommended site offers information and a free guide to mortgages in the UK.
Source: adapted by the editor from Wikipedia, the free encyclopedia under a copyleft GNU Free Documentation License (GFDL) from the article "Mortgage."
| The following table is compiled from various sources, across various languages. When English abbreviations or acronyms come from a non-English source, this is noted. | |||
| Entry | Source | Expression | Field |
| mort. | English | Mortgage | N/A |
Source: compiled by the editor, based on several corpora (additional references). | |||
| Context | Synonyms within Context (source: adapted from Roget's Thesaurus). |
Credit | Letter of credit, circular note; duplicate; mortgage, lien, debenture, paper credit, floating capital; draft, lettre de creance, securities. |
Lending | Noun: lending; Verb: loan, advance, accommodation, feneration; mortgage, second mortgage, home loan; (security); investment; note, bond, commercial paper. |
Sale | Let; mortgage;(security). |
Security | Verb: give security, give bail, give substantial bail; go bail; pawn, impawn, spout, mortgage, hypothecate, impignorate. |
Noun: security; guaranty, guarantee; gage, warranty, bond, tie, pledge, plight, mortgage, collateral, debenture, hypothecation, bill of sale, lien, pawn, pignoration; real security; vadium. | |
| Source: adapted from Roget's Thesaurus. | |
| Domain | Usage | |
Screenplays | You lied dozens of times on our mortgage application (The Simpsons; writing credit: Artur Brauner; Paul Hengge) Kenny's family is so poor, they had to put their cardboard box up for a second mortgage. (South Park; writing credit: Rocco Siffredi) But Mr. Vandercave, he's got a new kid, a mortgage, I'm his best friend, I can't (The Flintstones; writing credit: Tom S. Parker; Jim Jennewein) | |
Movie/TV Titles | The Gosh-Darn Mortgage (1926) | |
Source: compiled by the editor from various references; see credits. | ||
| Domain | Title |
References |
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Books | |
Periodicals | |
High Tech |
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Source: compiled by the editor from various references; see credits. | |
| Thumbnail | Description & Credit | Thumbnail | Description & Credit |
 | Trust figure with the mortgage of a destitute family. Credit: Library of Congress. |  | House on farm of J.E. Herbandson, owner-operator. Farm under heavy mortgage. Near Estherville, Iowa. Credit: Library of Congress. |
 | Corn crib on J.E. Herbrandson farm. One hundred sixty acres, owner-operated, near Estherville, Iowa. The necessity of making payments on a heavy mortgage has caused their buildings to be in bad repair. Credit: Library of Congress. |  | Old barn on John Landers' farm near Marseilles, Illinois. Landers rents this farm from a group of mortgage noteholders who have foreclosed. Credit: Library of Congress. |
 | Machine shed on farm of Theodore Johnson, renter of eighty acres near Marseilles, Illinois. This farm belongs to a business man who bought it from a group of mortgage noteholders. Credit: Library of Congress. |  | Corncrib on John Landers' farm near Marseilles, Illinois. This farm is owned by a group of mortgage noteholders who have little interest in farmers other than breaking even on their loans. The farm has had no repairs for several years. Credit: Library of Congress. |
 | Farmhouse on C.V. Hibbs' eighty-acre farm near Boswell, Benton County, Indiana. This farm is owner-operated, but carries a very heavy mortgage. Credit: Library of Congress. |  | House and outbuildings on William Weltis' farm near Boswell, Indiana. This fourteen hundred acre farm is owner-operated under a heavy mortgage. Credit: Library of Congress. |
 | Barn on William Weltis' farm near Boswell, Indiana. This farm (fourteen hundred acres) is owner-operated under a heavy mortgage. Credit: Library of Congress. |  | Suffolk County Federal Savings, Babylon, Long Island, New York. Mortgage room. Credit: Library of Congress. |
Source: pictures compiled by the editor from various references; see picture credits. | |||
| Author | Date | Quotation |
Treaty of Versailles | 1919 | The following classes of contracts are excepted from dissolution by Article 299 and, without prejudice to the rights contained in Article 297 (b) of Section IV, remain in force subject to the application of domestic laws, orders or regulations made during the war by the Allied and Associated Powers and subject to the terms of the contracts: (a) Contracts having for their object the transfer of estates or of real or personal property where the property therein had passed or the object had been delivered before the parties became enemies; (b) Leases and agreements for leases of land and houses (c) Contracts of mortgage, pledge or lien; (d) Concessions concerning mines, quarries or deposits; (e) Contracts between individuals or companies and States provinces, municipalities, or other similar juridical persons charged with administrative functions, and concessions granted by States, provinces, municipalities, or other similar juridical persons charged with administrative functions. (reference) |
Source: compiled by the editor from various references. | ||
| Subject | Topic | Quote |
Business | Banks report an all time record of mortgage loans. (references) | |
These factors have offset the impact of higher mortgage rates. (references) | ||
Typical end-users for mortgage services are medium to upper class households. (references) | ||
Economic History | Laos | THIS INCLUDES MORTGAGE LEASE INTERESTS. (references) |
Egypt | The mortgage facility in Egypt is underdeveloped. (references) | |
Haiti | In practice, property is seldom purchased through a mortgage. (references) | |
Human Rights | Guatemala | In addition to investigating judges and justices, the Disciplinary Unit also oversaw the investigation of court employees who inexplicably lost the court proceedings in another high profile bank fraud case pending against the former president of the National Mortgage Credit Bank, Jose Armando Llort. (references) |
Minorities | Greece | In 1999 the Ministry of Interior completed a survey of the housing needs of the Roma and in September started to erect prefabricated houses, totaling approximately 1,000. Also in September, the Minister of Interior announced a $283,707,106 (105 billion drachma) program to address Roma needs and to promote Roma integration, including housing, subsidized mortgage loans, and infrastructure in Roma camps, employment schemes, cultural and sports activities, and welfare allowances. (references) |
Political Economy | SOUTH AFRICA | The SARB uses CPIX (Consumer Price Index for metropolitan and urban areas excluding interest costs on mortgage bonds) as the benchmark for inflation targeting. (references) |
Trade | Nigeria | Apart from these categories, there exist many finance houses, mortgage and community banks. (references) |
Bulgaria | BACB also provides mortgage loans to individuals for the purchase of homes and consumer credit. (references) | |
Barbados | The Barbados Mortgage Finance Company Ltd. also provides mortgage loans to low-income borrowers. (references) | |
Travel | Thailand | A good range of commercial banking services is available in Thailand for both business and retail customers . Deposit accounts, lending facilities, foreign exchange, import/export facilities and other products and services such as credit cards, debit cards and automatic teller machines (ATM) are offered . Foreign banks have joined the local ATM network, thus enabling their customers to use their overseas bank ATM card at any ATM within the domestic network . There are approximately 5,000 ATM's in Thailand, with older machines being replaced by newer ones . Some limitations, such as on mortgage lending to foreigners, do exist, reflecting restrictions on foreign ownership of property. (references) |
Lexicography | Devil's Dictionary | HOUSE, n. A hollow edifice erected for the habitation of man, rat, mouse, beelte, cockroach, fly, mosquito, flea, bacillus and microbe. House of Correction, a place of reward for political and personal service, and for the detention of offenders and appropriations. House of God, a building with a steeple and a mortgage on it. House-dog, a pestilent beast kept on domestic premises to insult persons passing by and appal the hardy visitor. House-maid, a youngerly person of the opposing sex employed to be variously disagreeable and ingeniously unclean in the station in which it has pleased God to place her. |
Source: compiled by the editor from ICON Group International, Inc.; see credits. | ||
| Speaker | Term | Phrase(s) |
Dwight Eisenhower | 1953-1961 | We cannot mortgage the material assets of our grandchildren without asking the loss also of their political and spiritual heritage. |
Jimmy Carter | 1977-1981 | By using innovative financing mechanisms, such as the graduated payment mortgage, we have increased the access of middle income families to housing credit. |
Ronald Reagan | 1981-1989 | How often we read of a husband and wife both working, struggling from paycheck to paycheck to raise a family, meet a mortgage, pay their taxes and bills. |
Source: compiled by the editor from various references. | ||
| "Mortgage" is generally used as a noun (singular) -- approximately 92.36% of the time. "Mortgage" is used about 2,406 times out of a sample of 100 million words spoken or written in English. Its rank is based on over 700,000 words used in the English language. Some parts-of-speech are not covered due to the samples used by the British National Corpus. (note: percents less than one-hundredth of one percent have been omitted) |
| Parts of Speech | Percent | Usage per 100 Million Words | Rank in English |
| Noun (singular) | 92.36% | 2,223 | 3,957 |
| Noun (proper) | 4.69% | 113 | 30,464 |
| Lexical Verb (infinitive) | 1.95% | 47 | 49,740 |
| Lexical Verb (base form) | 0.95% | 23 | 72,767 |
| Noun (common) | 0.04% | 1 | 339,140 |
| Total | 100.00% | 2,406 | N/A |
Source: compiled by the editor from several corpora; see credits.
| Country | Name | Country | Name |
| United Kingdom | The Scottish Mortgage And Trust P.L.C. | USA | American Home Mortgage Holdings, Inc. |
| (more examples...) |
Source: compiled by the editor from Icon Group International, Inc.
Expressions using "mortgage": adjustable rate mortgage ♦ blanket mortgage ♦ bulk mortgage ♦ chattel mortgage ♦ collateralised mortgage obligation ♦ collateralized mortgage obligation ♦ federal Home Loan Mortgage Corporation ♦ federal National Mortgage Association ♦ first mortgage ♦ foreclose a mortgage ♦ junior mortgage ♦ lift a mortgage ♦ mortgage a house ♦ mortgage application ♦ mortgage bank ♦ mortgage company ♦ mortgage credit ♦ mortgage debenture ♦ mortgage debt repayable in predetermined instalments ♦ mortgage deed ♦ mortgage holder ♦ mortgage loan ♦ mortgage of chose in action ♦ mortgage repayable by instalments ♦ redeem a mortgage ♦ repayment mortgage ♦ second mortgage ♦ takeout mortgage loan ♦ To foreclose a mortgage ♦ umbrella mortgage ♦ variable rate mortgage ♦ vendor take back mortgage ♦ welsh mortgage. Additional references. | |
| Hyphenated Usage | |
Beginning with "mortgage": mortgage-backed, mortgage-backed security, mortgage-free, mortgage-holder, mortgage-holders, mortgage-interest, mortgage-lender, mortgage-lending, mortgage-payers, mortgage-paying, mortgage-property, mortgage-rate, mortgage-related, mortgage-servicing, mortgage-sharing. | |
Ending with "mortgage": non-mortgage, re-mortgage, rents-to-mortgage, residential-mortgage, rigor-mortgage, second-mortgage. | |
| Source: compiled by the editor from various references; see credits. | |
| The following statistics estimate the number of searches per day across the major English-language search engines as identified by various trade publications. Hyperlinks lead to commercial use of the expression at Amazon.com. |
| Language | Translations for "mortgage"; alternative meanings/domain in parentheses. | |
Albanian | peng (bailment, caution money, deposit, Gage, guarantee, guaranty, hock, hostage, pawn, pledge), hipotekë. (various references) | |
Arabic | صك الرهن, رهن عقاري, رهن (bond, encumbrance, forfeit, gage, hock, mortgaging, pawn, pledge). (various references) | |
Bulgarian | залог (bail, forfeit, guaranty, hostage, pawn, pledge, punt, security, stake, surety, voice), залагам (lay, lay down, pawn, pledge, pop, put, put up, shoot, stake, venture), ипотека (hypothec), ипотекиране, ипотекирам (bond, hypothecate). (various references) | |
Chinese | 抵押 . (various references) | |
Czech | zatížit hypotékou, hypotéka (hypothec). (various references) | |
Danish | realkredit (loan or credit secured on real property, mortgage credit, real estate credit), prioritet (junior mortgage, precedence, priority), prioritering, kredit mod underpant (mortgage credit). (various references) | |
Dutch | hypotheek. (various references) | |
Esperanto | hipoteko. (various references) | |
Finnish | kiinnitys (fastening). (various references) | |
French | hypothèque (mortgaging). (various references) | |
Frisian | hypteek, hypoteek. (various references) | |
German | Hypothek. (various references) | |
Greek | υποθήκη, υποθηκεύω (bond, hypothecate). (various references) | |
Hebrew | משכ ת", למשכן (pawn, pledge), לשעב" (enslave, subjugate, subordinate), שעבו" (bondage, enslavement, enthrallment, lien, serfdom, slavery, subjugation), אפותק". (various references) | |
Hungarian | teher (ballast, burden, burthen, cargo, charge, drag, encumbrance, fardel, freight, imposition, lading, liabilities, liability, load, loading, onus, passive debts), jelzálog (encumbrance, hypothec). (various references) | |
Italian | ipoteca. (various references) | |
Japanese Kanji | 抵" (hypothec, security). (various references) | |
Japanese Katakana | モーゲージ , ひきあて (security), じょうとた"ぽ, ていとうけ" (a lien on one's mortgage), ていとう (hypothec, low bow, nailhead, security). (various references) | |
Korean | 당. (various references) | |
Manx | gioaldeeaght. (various references) | |
Papiamen | hipotek. (various references) | |
Pig Latin | ortgagemay.(various references) | |
Portuguese | hipoteca (encumbrance, hypothec). (various references) | |
Romanian | ipotecare (pawnage, pignoration), amanetare (pawn, pawnage, pawning), amanet (guarantee, guaranty, handsel, pawn), act de ipotecare, act de amanetare. (various references) | |
Russian | закладывать закладная;ипотека, закладная (bill of sale, encumbrance, hypothec), заклад (pawn), заем (loan), ипотека (hypothec, hypothecation). (various references) | |
Serbo-Croatian | založiti (hock, impawn, pawn, pledge), zadužiti (encumber, obligate), ugovor o hipoteci, staviti hipoteku (hypothecate), hipoteka (hypothec). (various references) | |
Spanish | hipoteca (mort., plaster). (various references) | |
Swedish | inteckning (encumbrance), hypotek (encumbrance, security), belåna (lend on, pledge, raise money on). (various references) | |
Turkish | rehin (Gage, hock, hostage, hypothec, pawn, pledge, pop, security), ipotek etmek (hypothecate), ipotek (charge, encumbrance, hypothec, lien, real charge, security). (various references) | |
Ukrainian | ручатися (answer, avouch, certify, ensure, impawn, pawn, pledge, undertake), заставна, застава (bail, bailment, barrier, bond, borrow, gate, guarantee, hostage, outpost, pawn, pledge, recognizance, toll bar), заставляти (hypothecate, impawn, pignorate, pledge). (various references) | |
Welsh | arwystlo (pledge). (various references) | |
| Source: compiled by the editor from various translation references. | ||
| Language | Period | Translations |
| Latin | 500 BCE-Modern | caveo, hypotheca, pignoris, pignus. (various references) |
| Source: compiled by the editor from various references. | ||
Derivations | |
Words beginning with "mortgage": mortgaged, mortgagee, mortgagees, mortgager, mortgagers, mortgages. (additional references) | |
Words ending with "mortgage": remortgage. (additional references) | |
Words containing "mortgage": remortgaged, remortgages. (additional references) | |
| |
"Mortgage" is suggested in spellcheckers for the following: metreage, morgage, morgtage, mortagage, mortage, mortegage, mortgae, mortgate, motgage, Murtaugh. (additional references) | |
| Source: compiled by the editor, based on several corpora (additional references). | |
Scrabble® Enable2K-Verified Anagrams | |
| Words within the letters "a-e-g-g-m-o-r-t" | |
-2 letters: garget, garote, gorget, maggot, orgeat, tagger. | |
-3 letters: agger, aggro, amort, argot, armet, eggar, ergot, gager, gamer, gator, gemot, gorge, grate, great, grego, groat, magot, marge, mater, metro, morae, oater, omega, orate, ramet, regma, retag, tamer, targe, terga, togae. | |
-4 letters: aero, ager, agog, atom, ergo, gage, game, gate, gear, germ, geta, goat, goer, gore. | |
| Words containing the letters "a-e-g-g-m-o-r-t" | |
+1 letter: mortgaged, mortgagee, mortgager, mortgages. | |
+2 letters: mortgagees, mortgagers, remortgage. | |
+3 letters: agglomerate, gangsterdom, remortgaged, remortgages. | |
+4 letters: agglomerated, agglomerates, gangsterdoms, gyromagnetic, magnetograph, remortgaging. | |
+5 letters: aggiornamento, agglomerating, agglomeration, agglomerative, magnetographs, roentgenogram. | |
| Source: compiled by the editor from various references; see credits. SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro. | |
| 1. Definition 2. Crosswords 3. Usage: Modern 4. Usage: Commercial | 5. Images: Photo Album 6. Quotations: Historic 7. Quotations: Non-fiction 8. Quotations: Speeches | 9. Usage Frequency 10. Names: Company Usage 11. Expressions 12. Expressions: Internet | 13. Translations: Modern 14. Translations: Ancient 15. Abbreviations 16. Acronyms | 17. Derivations 18. Anagrams 19. Bibliography |
Copyright © Philip M. Parker, INSEAD. Terms of Use.
