Real Estate Slang: Mortgage

The word mortgage has a pretty dark meaning.  Maybe we should all be paying cash for our homes!

The word has its roots in old French with mort meaning "dead" and gage meaning "pledge".   In other words, mortgage means death pledge!  Historically, a mortgage means a debt instrument that was paid off at the time of death or if the deal dies.  Given most people will never be mortgage free due to the high cost of real estate, I guess this definition makes sense no matter how morbid.