mortgaging Definition
- 1the act of borrowing money to buy a property or land, using the property or land as collateral
- 2the act of pledging something valuable as security for a loan
Using mortgaging: Examples
Take a moment to familiarize yourself with how "mortgaging" can be used in various situations through the following examples!
Example
He is mortgaging his house to start a business.
Example
The bank requires collateral before mortgaging the property.
Example
Mortgaging can be a good way to finance a home purchase.
📌
Summary: mortgaging in Brief
Mortgaging [ˈmɔːɡɪdʒɪŋ] refers to the act of borrowing money to buy a property or land, using the property or land as collateral. It can also mean the act of pledging something valuable as security for a loan. Mortgaging is a common way to finance a home purchase and requires collateral.
