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mortgage Definition
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mortgage
noun(mort-gage)a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms
mortgage
noun(mort-gage)the instrument evidencing the mortgage
mortgage
noun(mort-gage)the state of the property so mortgaged
mortgage
verb(mort-gage)to grant or convey by a mortgage
mortgage
verb(mort-gage)to subject to a claim or obligation : pledge
mortgage
idiom(mort-gage)to borrow a large amount of money that will have to be paid back in the future —sometimes used figuratively
mortgage
noun(mort-gage)a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but is adjusted periodically according to the cost of funds to the lender
mortgage
noun(mort-gage)a mortgage that has priority as a lien over all mortgages and liens except those imposed by law
mortgage
noun(mort-gage)a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or sells the home
mortgage
noun(mort-gage)a mortgage the lien of which is subordinate to that of a first mortgage
mortgage
noun(mort-gage)adjustable rate mortgage