Quick Definition *

A mortgage is a method of using property (real or personal) as security for the payment of a debt.

More information *

The term mortgage (from Law French, lit. dead pledge) refers to the legal device used for this purpose,
but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan.

See other : Words in the News.

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Last updated: 15 February, 2010 02:43:16