Origin and history of mortgage

mortgage(n.)

late 14c., morgage, "a conveyance of property on condition as security for a loan or agreement," from Old French morgage (13c.), mort gaige, literally "dead pledge" (replaced in modern French by hypothèque), from mort "dead" (see mortal (adj.)) + gage "pledge" (see wage (n.)).

So called because the deal dies when the debt is paid or the payment fails. Old French mort is from Vulgar Latin *mortus "dead," from Latin mortuus, past participle of mori "to die" (from PIE root *mer- "to rub away, harm," also "to die"). The -t- was restored in Modern English based on Latin.

And it seemeth, that the cause why it is called mortgage is, for that it is doubtful whether the feoffor will pay at the day limited such sum or not: and if he doth not pay, then the land which is put in pledge upon condition for the payment of the money, 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 tenant, &c. [Coke upon Littleton, 1664]

also from late 14c.

mortgage(v.)

"to grant (immovable property) as security for money lent or contracted to be paid," late 15c., morgagen, from mortgage (n.). Related: Mortgaged; mortgaging.

also from late 15c.

Entries linking to mortgage

mortal(adj.)

late 14c., "deadly, destructive to life; causing or threatening death" (of illness, poisons, wounds, etc.); also, of persons or the body, "doomed to die, subject to death;" from Old French mortel "destined to die; deserving of death" and directly from Latin mortalis "subject to death, mortal, of a mortal, human," from mors (genitive mortis) "death."

This is reconstructed to be from PIE *mr-o- "to die," *mr-to- "dead," *mr-ti- "death," all from PIE root *mer- "to rub away, harm" (also "to die" and forming words referring to death and to beings subject to death). The most widespread Indo-European root for "to die," it forms the common word for it except in Greek and Germanic.

"Subject to death," hence "human, of or pertaining to humans" (early 15c.). Also from late 14c. as "implacable, to be satisfied only by death" (of hatreds, enemies, etc.). Meaning "extreme, very great" is from late 14c. A mortal sin (early 15c., opposed to venial) is one that incurs the penalty of spiritual death.

wage(n.)

c. 1300, "a payment for services rendered, reward, just deserts;" mid-14c., "salary paid to a provider of service," from Anglo-French and Old North French wage (Old French gage) "pledge, pay, reward," from Frankish *wadja- or another Germanic source (compare Old English wedd "pledge, agreement, covenant," Gothic wadi "pledge"), from Proto-Germanic *wadi- (see wed (v.)). A doublet of gage (n.). Spanish gage, Italian gaggio also are from Germanic.

Also from mid-14c., "a pledge, guarantee, surety" (usually in plural), and (c. 1400) "a promise or pledge to meet in battle." The "payment for service" sense by late 14c. extended to allotments of money paid at regular intervals for continuous or repeated service. The Old English word was lean, related to loan and representing the usual Germanic word (Gothic laun, Dutch loon, German Lohn).

Traditionally in English wages were payment for manual or mechanical labor and somewhat distinguished from salary or fee. Modern French cognate gages (plural) means "wages of a domestic," one of a range of French "pay" words distinguished by class, such as traitement (university professor), paye, salaire (workman), solde (soldier), récompense, prix.

Wage-earner "one who receives stated wages for labor" is attested from 1871.

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