Here’s a spooky money fact for you:
The word mortgage literally means “death pledge.”
Yikes.
But don’t worry—it’s not nearly as morbid as it sounds. Let’s break it down:
- Mort = Latin for death
- Gage = Old French for pledge or promise
So why the gloomy term?
Back in medieval times, a mort-gage was a legal agreement that would “die” when the debt was paid off—or when the borrower failed to pay.
In other words, the pledge had a clear end: pay it, or lose the property.
Fast forward to today, and mortgages are just long-term home loans. But the name stuck—because, well, the commitment still feels serious enough to swear your life on.
Buying a home is one of the biggest financial promises you’ll ever make. So maybe “death pledge” isn’t that far off… just saying. 😅
Fun Fact
In modern finance, a mortgage isn’t just a loan—it’s a lien on your home. If you don’t pay, the bank can legally take it back. Yep, the “pledge” part is still very real.
