Mortgage Definition–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) | 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. |
[Origin: 1350–1400; earlier morgage, ME < OF mortgage, equiv. to mort dead (< L mortuus) + gage pledge, gage1 ] |
From Dictionary Refinance Definition–verb (used with object), -nanced, -nanc·ing.
| 2. | to satisfy (a debt) by making another loan on new terms: She just refinanced her mortgage. |
| 3. | to increase or change the financing of, as by selling stock or obtaining additional credit. |
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From Dictionary |
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