mortgaged
Definition
- Adjective:
- Burdened with a mortgage: Describing property that has been used as security for a loan, meaning the lender has a legal claim on it until the debt is repaid.
- Pledged or obligated: More broadly, describing something (like assets, future income, or even abstract concepts like one's future) that is committed as security or is under a heavy burden of obligation.
Usage
- The adjective "mortgaged" is used to describe an asset, most commonly real estate, that is legally bound as collateral for a loan.
- It can be used attributively (before a noun) or predicatively (after a linking verb like "was" or "is").
- It often implies a financial burden or a claim against the full ownership of the item.
Examples
- Attributive use:
- They live in a mortgaged property. (The property they live in has a mortgage on it.)
- The bank seized the mortgaged farm. (The farm that was used as loan collateral was seized.)
- Predicative use:
- The house is mortgaged to the bank. (The bank holds the mortgage on the house.)
- His future was mortgaged to pay for his education. (His future earnings/opportunities are heavily obligated to repay education debts.)
Advanced Usage
- Figurative Use: "Mortgaged" can be used metaphorically to describe non-physical things that are heavily committed or pledged.
- Her time was completely mortgaged to her new startup, leaving no room for a social life. (All her time was obligated to her business.)
- The politician had mortgaged his principles for campaign donations. (He had compromised his principles as if they were collateral.)
Variants and Related Words
- Mortgage (noun): The loan agreement itself, or the sum of money borrowed against property.
- They took out a 30-year mortgage.
- Mortgage (verb): The act of pledging property as security for a loan.
- They had to mortgage their home to finance the business.
- Mortgagor (noun): The person who borrows the money by mortgaging their property.
- Mortgagee (noun): The lender (e.g., a bank) who holds the mortgage.
Synonyms
- Pledged: Committed as security.
- Encumbered: Burdened with a legal claim or debt.
- Hocked (informal): Pawned or pledged.
Antonyms
- Unencumbered: Free from any burden or legal claim.
- Owned outright: Fully owned with no debt or lien against it.
- Unmortgaged: Not subject to a mortgage.
Related Phrases/Idioms
- To have a mortgage on something: To hold a legal claim on it as security.
- The bank has a mortgage on their building.
- To pay off the mortgage: To repay the loan in full, freeing the property from the lien.
- They celebrated after they finally paid off the mortgage.
Adjective
-
burdened with legal or financial obligations
-
his house, his business, indeed, his whole life was heavily mortgaged
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