Basic Details
Word: Mortgaged
Part of Speech: Verb
Meaning: To borrow money from a bank to buy a home or property, using the home as security for the loan.
Synonyms: Financed, Secured
Antonyms: Paid off, Unsecured
Idioms and Phrases
- Mortgaged to the hilt: To have taken out the maximum possible mortgage on a property. Example: "After buying their new house, they were mortgaged to the hilt and had to manage their expenses carefully."
- Put your house on the line: To risk your property in order to gain something, often related to financial decisions. Example: "He was so confident in his business idea that he decided to put his house on the line."
Usage Examples
Example 1: They decided to buy a larger home and mortgaged their existing house to help with the costs.
Example 2: After years of hard work, she finally paid off the mortgaged amount on her flat.
Example 3: When they mortgaged their property, they had to follow strict payment schedules to avoid penalties.
Fun Fact
Did you know that the word "mortgage" comes from a French term meaning "death pledge"? It was originally used because the pledge would end either when the debt was paid or when the borrower died.
Famous Quote
"A mortgage is a place where you can keep your money and a roof over your head at the same time." Author Unknown
Multiple Choice Questions (MCQs)
1. What does "mortgaged" mean?
a) To borrow money to buy a car
b) To borrow money to buy a home or property
c) To save money in a bank
d) To buy a new toy
Answer: b) To borrow money to buy a home or property
2. Which of these is a synonym of "mortgaged"?
a) Financed
b) Sold
c) Rented
d) Donated
Answer: a) Financed
3. Which is an antonym of "mortgaged"?
a) Sold
b) Paid off
c) Financed
d) Borrowed
Answer: b) Paid off
4. Which sentence uses "mortgaged" correctly?
a) She mortgaged her car to get a loan.
b) They mortgaged their home to buy a new television.
c) He mortgaged his house to pay for the wedding.
d) They mortgaged their house to go on holiday.
Answer: c) He mortgaged his house to pay for the wedding.
5. What does "mortgaged to the hilt" mean?
a) Having no loans
b) Having taken the maximum mortgage
c) Paying off a loan
d) Buying a new house without mortgage
Answer: b) Having taken the maximum mortgage
