unmortgage

noun

1. a conveyance of an interest in property as security for the repayment of money borrowed.
2. the deed by which such a transaction is effected.
3. the rights conferred by it, or the state of the property conveyed.

verb (used with object), mort·gaged, mort·gag·ing.

4. Law. to convey or place (real property) under a mortgage.
5. to place under advance obligation; pledge: to mortgage one’s life to the defense of democracy.

noun

1. an agreement under which a person borrows money to buy property, esp a house, and the lender may take possession of the property if the borrower fails to repay the money
2. the deed effecting such an agreement
3. the loan obtained under such an agreementa mortgage of £48 000
4. a regular payment of money borrowed under such an agreementa mortgage of £247 per month

verb (tr)

5. to pledge (a house or other property) as security for the repayment of a loan

adjective

6. of or relating to a mortgagea mortgage payment

n.late 14c., morgage, “conveyance of property as security for a loan or agreement,” from Old French morgage (13c.), mort gaige, literally “dead pledge” (replaced in modern Frech by hypothèque), from mort “dead” (see mortal (adj.)) + gage “pledge” (see wage (n.)). So called because the deal dies either when the debt is paid or when payment fails. Old French mort is from Vulgar Latin *mortus “dead,” from Latin mortuus, past participle of mori “to die” (see mortal (adj.)). The -t- restored in English based on Latin. v.late 15c., from mortgage (n.). Related: Mortgaged; mortgaging. A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.