noun “mortgage”
singular mortgage, plural mortgages
- a loan to buy a house or land where the property is used as security
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They obtained a mortgage to purchase their first home.
verb “mortgage”
infinitive mortgage; he mortgages; past tense mortgaged; past part. mortgaged; ger. mortgaging
- to use a property as security for a loan
They mortgaged their house to buy a new business.
- (figurative) to risk future loss of something valuable in order to gain something now
She mortgaged her future for a chance at fame.