Mortgage
volume
British pronunciation/mˈɔːɡɪd‍ʒ/
American pronunciation/ˈmɔɹɡədʒ/, /ˈmɔɹɡɪdʒ/

Definition & Meaning of "mortgage"

Mortgage
01

an official contract or arrangement by which a bank gives money to someone as a loan to buy a house and the person agrees to repay the loan over a specified period, usually with interest

Wiki
mortgage definition and meaning
to mortgage
01

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

example
Example
examples
The mortgage on it has turned into a real yoke round my neck.
The homeowner refinanced their mortgage to consolidate their high-interest debts.
The financial institution called the mortgage payment in.
The mortgage on his house had become a millstone around his neck.
They secured the mortgage by offering their home as collateral.
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