a conveyance of an interest in property as security for the repayment of money borrowed.
the deed by which such a transaction is effected.
the rights conferred by it, or the state of the property conveyed.
verb (used with object), mortgaged, mortgaging.
Law. to convey or place (real property) under a mortgage.
to place under advance obligation; pledge:
to mortgage one’s life to the defense of democracy.
to take out a new or different mortgage on a property
an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money
the deed effecting such an agreement
the loan obtained under such an agreement: a mortgage of £48 000
a regular payment of money borrowed under such an agreement: a mortgage of £247 per month
verb (transitive)
to pledge (a house or other property) as security for the repayment of a loan
of or relating to a mortgage: a mortgage payment
mortgage [(mawr-gij)]

A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.


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