mortgage

/mˈɔːɡɪd‍ʒ/

/ˈmɔɹɡədʒ/, /ˈmɔɹɡɪdʒ/

Mortgage

an official contract or arrangement by which a bank gives money to someone as a loan to buy a house and the person must return the money with interest at monthly intervals

to mortgage

[VERB]

MAIN VERB

to offer a bank or other financial institutions a property of high value in exchange for a loan

Examples

1. The mortgage on it has turned into a real yoke round my neck.

2. The mortgage on his house had become a millstone around his neck.

3. Scott has been boxed into a corner with this mortgage payment that he cannot afford.

4. They bought a luxurious house and expensive cars but couldn't keep up with the mortgage and loans.

Nearby words