v. t.
prop. n. A federally chartered corporation that purchases and resells mortgages. [ acron. ]
n. [ F. mort-gage; mort dead (L. mortuus) + gage pledge. See Mortal, and Gage. ]
☞ It was called a mortgage (or dead pledge) because, whatever profit it might yield, it did not thereby redeem itself, but became lost or dead to the mortgager upon breach of the condition. But in equity a right of redemption is an inseparable incident of a mortgage until the mortgager is debarred by his own laches, or by judicial decree. Cowell. Kent. [ 1913 Webster ]
Chattel mortgage.
To foreclose a mortgage.
Mortgage deed (Law),
v. t.
Mortgaging their lives to covetise. Spenser. [ 1913 Webster ]
I myself an mortgaged to thy will. Shak. [ 1913 Webster ]
adj. burdened with legal or financial obligations;
n. (Law) The person to whom property is mortgaged, or to whom a mortgage is made or given. [ 1913 Webster ]
n. (Law) One who gives a mortgage. [ 1913 Webster ]
☞ The letter e is required analogically after the second g in order to soften it; but the spelling mortgagor is in fact the prevailing form. When the word is contradistinguished from mortgagee it is accented on the last syllable [ 1913 Webster ]