Britannica.com: Encyclopedia article on mortgages Nowadays, we think of a mortgage when we think of buying a home. Merriam-Webster defines the word “mortgage” as “a transfer or lien on property (e.g. to secure a loan) that becomes invalid upon payment or performance on specified terms.” Most people get a mortgage when they buy a home. The bank extends the loan because of the guarantee that the house will be sold by the bank if the debt is not repaid. When you close this transaction, you have pawned your home – the word mortgage can be used as a noun or verb. In one example, Hyatt explained how call analytics can be integrated into a Google ad campaign that directs people to a landing page with a mortgage or car application. Another profitable investment for money can be found in Sydney in the form of a mortgage. After that, Sloan became “cash poor” and couldn`t afford the mortgage on his $1.4 million apartment in Manhattan. MORTGAGE, transitive verb mor`gage. Granting of a discount as a charge as security for a borrowed or contractually agreed sum to be paid at a given time, provided that, if the debt is paid in accordance with the contract, the gift is null and void, otherwise it remains in full force and effect.
It is customary to give a mortgage to guarantee the repayment of borrowed money or the payment of the purchase price of an estate or for other debts. A mortgage is a loan where the lender can use your property as payment if you don`t repay the loan. Give your friend a mortgage for the $20 they want. with his bike as safety. “Mortgage”. Merriam-Webster.com Thesaurus, Merriam-Webster, www.merriam-webster.com/thesaurus/mortgage. Retrieved 12 December 2020. These sample phrases are automatically selected from various online information sources to reflect the current use of the word “first mortgage.” The views expressed in the examples do not represent the views of Merriam-Webster or its editors. Send us your feedback. 1.
Literally a dead promise; the granting of an estate as security for the payment of a sum of money and provided that, if the money is paid in accordance with the contract, the gift is invalid and the mortgagee transfers the estate to the mortgagee. Previously, the condition was that if the mortgagee had to repay the money by the specified date, then he could return to the pledged estate; But modern practice dictates that after receiving the payment, the mortgagee transfers the land to the mortgage lender. Before the date specified for payment, i.e. between the time of the contract and the payment deadline, the estate is conditional and the mortgagee is named as the lessee in the mortgage; However, in the event of non-payment at the time of prescription, the discount becomes absolute with the mortgagee. But in this case, the courts of equity intervene, and if the estate is worth more than the debt, they will give the mortgage lender, upon request, a reasonable period of time to repay the estate. This is called repayment fairness. You must – there are over 200,000 words in our free online dictionary, but you`re looking for one that is only included in the full Merriam-Webster dictionary. According to low-fat dietitian Dean Ornish, using the diet will “jeopardize your health.” Not rich, with the last mortgage payment that is imminent. In a few sentences, as if taking out a mortgage, they gave up the France. She also insists that she was not “financially involved” in the down payment or mortgage payments on the property. This summer, the CFPB used online feedback to redesign the mortgage disclosure form.
Start your free trial today and get unlimited access to America`s largest dictionary with: Subscribe to America`s largest dictionary and get thousands of other definitions and an advanced search – ad-free! What made you look for a mortgage? Please let us know where you read or heard it (including the quote, if possible). The mortgage they had to pay off was a stump; but faith and the dairy of Luclarion did. In general, the first thing we think of when we hear the word “mortgage” is the process of buying a home. While it`s common to hear about mortgages and mortgage rates, the word itself has an interesting history that`s actually a bit morbid.