Down the throat

It is a special kind of trust that causes a person to take the word of someone else who is encouraging you to sign papers that will cause a dept that takes decades to pay off. With that, there is a special terror as well. It is a short trip from mortgage owner to homeless. And the following gives me cause to pause, death vow, really!


Word History: The great jurist Sir Edward Coke, who lived from 1552 to 1634, has explained why the term mortgage comes from the Old French words mort, "dead," and gage, "pledge." It seemed to him that it had to do with the doubtfulness of whether or not the mortgagor will pay the debt. If the mortgagor does not, then the land pledged to the mortgagee as security for the debt "is taken from him for ever, and so dead to him upon condition, &c. And if he doth pay the money, then the pledge is dead as to the [mortgagee]." This etymology, as understood by 17th-century attorneys, of the Old French term morgage, which we adopted, may well be correct. The term has been in English much longer than the 17th century, being first recorded in Middle English with the form morgage and the figurative sense "pledge" in a work written before 1393. (from http://www.thefreedictionary.com/mortgage)