Mortgage

[Sarah]

A conveyance of property, upon condition, as security for thepayment of a debt or the preformance of a duty, and to become voidupon payment or performance according to the stipulated terms; also,the written instrument by which the conveyance is made.

[Sarah]

Middle class slavery.
Investment bankers buy your home loans and manage you like cattle to make even more undeserved money. For some reason people are satisfied with the illusion that they own a small plot of land with a small box on it. Sure you can make a profit if you know how to flip real estate, but good luck paying your sub-prime mortgage with the job you just loss thanks to this fucked up economy.

[Sarah]

That weight around your neck that will never be alleviated until you (1) DIE or (2) eventually pay off by the time you are 107.

[Sarah]

1. A loan against your property
2. Something that a homeowner might possess in his bid to own a home good and proper. Often to alleviate damage to his property incurred through it being 'owned'

[Sarah]

possible root from the French verb mourir meaning to die. The English word mortgage refers a home owner's loan that is usually with you until you die. Usage of the French root is supposed to make it sound fancier than loan - but it doesn't really.

[Sarah]

The only reason you own a home.

[Sarah]

A legally binding contract that allows a financial institution to rape you every month for the next 20-30 years. In return, you get the privilege of maintaining a dwelling out of your own pocket without actually owning it.

[Sarah]

Another name for your wife or husband.

[Gregory]

A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property, such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.

[Agnes]

To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.