Mortgage | Mean of mortgage in English Dictionary

/ˈmoɚgɪʤ/

• Noun
• a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years
1. He will have to take out a mortgage in order to buy the house.
2. a 30-year mortgage
3. a $50,000 mortgage
4. They hope to pay off the mortgage on their home soon.
5. a mortgage agreement/banker/lender/loan
6. Mortgage rates are down.
• Verb
• to give someone a legal claim on (property that you own) in exchange for money that you will pay back over a period of years
1. She mortgaged her house in order to buy the restaurant.
• to borrow a large amount of money that will have to be paid back in the future or to do something that may cause problems for you in the future
1. The city has mortgaged its future to pay for the new stadium.
2. Some critics say that she has mortgaged her political future on a program that is likely to fail.