Why does mortgage mean death pledge?
The meaning of mortgage
What is a dead pledge? Well, that is the literal translation of the word mortgage: … “dead pledge” (replaced in modern Fr. by hypothèque), from mort “dead” + gage “pledge;” so called because the deal dies either when the debt is paid or when payment fails.
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 Latin word for mortgage?
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”.
What does the Bible say about mortgages?
A mortgage is a form of personal debt. In the Law, the Lord allowed Israel to incur debts and extend credit to one another so long as they didn’t charge usury interest (e.g., Exodus 22:25; Leviticus 25:36). But Jews could charge interest on a loan made to a Gentile (see Deut 23:20).
Does mortgage have a silent T?
Very few words in the English language contain the consonant cluster –rtg-, and in only one of those words (and its derivatives) is the t silent: mortgage.
Is a mortgage a dead pledge?
From where did the word “mortgage” come? 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.
Is a mortgage a 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.
What do the French call a mortgage?
[ˈmɔːʳɡɪdʒ ] (= loan) emprunt m immobilier.
What is a synonym for mortgage?
In this page you can discover 29 synonyms, antonyms, idiomatic expressions, and related words for mortgage, like: lease, amortize, deed, title, encumbrance, contract, lien, debt, hock, transactions and loan.
What is the meaning of house mortgage?
A home mortgage is a loan given by a bank, mortgage company or other financial institution for the purchase of a residence. A home mortgage will have either a fixed or floating interest rate, and a lifespan of anywhere from three to 30 years.