Does mortgage mean death contract?
Does mortgage mean death contract?
A mortgage loan is a loan secured by real property through the use of a mortgage note. The word mortgage is a French Law term meaning “death contract”, meaning that the pledge ends (dies) when either the obligation is fulfilled or the property is taken through foreclosure.
What is the original meaning of mortgage?
dead pledge
The word comes from Old French morgage, literally “dead pledge,” from mort (dead) and gage (pledge). According to the online etymology dictionary, it is so called because the deal dies when the debt is paid or when payment fails.
Why does mortgage mean death pledge?
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning “death pledge” and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
Whats the meaning of the word mortgage?
1 : a conveyance (see conveyance sense 2a) of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms took out a mortgage in order to buy the house. 2a : the instrument evidencing the mortgage. b : the state of the property so mortgaged.
What do the French call a mortgage?
[ˈmɔːʳɡɪdʒ ] (= loan) emprunt m immobilier.
What is another word for mortgage?
mortgage
- contract.
- debt.
- deed.
- pledge.
- title.
- homeowner’s loan.
Where does the name mortgage come from?
English borrowed the word mortgage from French sometime around the fourteenth century, and it steadily all but replaced (outside of esoteric legal literature, at least) the earlier Latin term mortuum vadium—literally a “dead pledge”.
Where did the word death originate?
The word death comes from Old English dēaþ, which in turn comes from Proto-Germanic *dauþuz (reconstructed by etymological analysis). This comes from the Proto-Indo-European stem *dheu- meaning the “process, act, condition of dying”.
Why is a mortgage called a mortgage?
Mortgage. “Word nerds will notice an eerie root word in ‘mortgage’ — ‘mort,’ or ‘death,'” Weller writes. “The term comes from Old French, and Latin before that, to literally mean ‘death pledge. ‘”
Can you get an interest only mortgage in France?
Interest-only loans are possible in France but certainly harder to come by than a more traditional repayment mortgage. French lenders consider them to be a higher-risk option, so the barrier to entry is higher.
What is a antonym for mortgage?
Antonyms. secured bond unsecured bond repulsion detach unconnectedness.
What is the opposite of a mortgage?
Opposite of a privilege of delayed payment extended to a buyer or borrower. cash. upfront payment. advance payment.
What is the origin of the word mortgage?
The English word mortgage is derived from the Old French : mort, dead (from Vulgar Latin *mortus, from Latin mortuus, past participle of mor, to die; see mer- in Indo-European roots) + gage, pledge (of Germanic origin). A mortgage is a contract specifying the terms you have to sign in order to get a loan;
What is the meaning of the word mortgage?
Definition of mortgage. (Entry 1 of 2) 1 : a conveyance (see conveyance sense 2a) of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms took out a mortgage in order to buy the house. 2a : the instrument evidencing the mortgage.
What is the history of the word mortgage?
The origins of the word mortgage come from the French words mort (death), and gage (a pledge). The word mortgage came into Middle English by way of Middle and Old French.
What is a loan program?
A loan product created by a lender and offered to borrowers. It has a specific set of features and costs, which must be disclosed to consumers before they can be bound by its terms. In mortgage lending, there are many programs available and many combinations of features and requirements. Mortgage loan programs can be defined in many ways.
