Definition, synonyms and related words
plural of mortgage
"After signing over their life savings, they finally had enough down payments to close on several mortgages for vacation homes across the country."
In plain English: A mortgage is a loan used to buy a house that you pay back over time with interest.
"The bank denied our application because we couldn't afford the large mortgages on two properties."
Usage: Use "mortgages" to refer to multiple loans secured by real estate, such as when discussing the various home loans held by a bank or family. Do not use this plural form when referring to a single debt instrument, which remains "a mortgage."
Third-person singular simple present indicative form of mortgage
"The bank refuses to mortgages any property in that flood zone."
In plain English: To mortgage something means to pledge it as security for a loan so you can borrow money.
"The bank refused to mortgage their home again until they paid off the initial loan."
Usage: Do not use "mortgages" to describe the act of securing a loan; instead, say that someone "mortgages" their home or property. The word functions as a verb meaning to pledge an asset as security for a debt, so it should only take a singular object like a house, never be used transitively with a person.
Derived from Old French morgage, which comes from Latin mortuum (dead), the term originally referred to land held as security until a debt was paid, implying that failure to do so would result in the loss of the property. The root concept suggests that if the obligation is not met, the creditor effectively "kills" or takes possession of the debtor's claim to the land.