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  1. 10-17-2010, 07:54 PM #1
    druthb00
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    Default Pledge unto death

    .... supposedly is what Mortgage means in latin, or at least the phrase the word is derived from. Real cute huh? Although morbidly appropriate....lol. I saw the "How long until your mortgage is paid off," thread and thought that at least many FV'ers won't fit into the "until dealth" category
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  2. 10-18-2010, 08:47 AM #2
    frugalwarrior2
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    Because my parents bought their house cash,I do feel like it takes forever.sigh.
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  3. 10-18-2010, 12:05 PM #3
    LuLuBleen
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    Default

    When I read the other thread, I was thinking how well everyone here was doing. FVers have a plan.

    Many of the folks I know (in real life, so to speak) are the how-much-a-month types. They don't even know when they'll pay off the mortgage - all they care about is the monthly payment. And they refinance over and over to string the mortgage along so they can buy more toys. Since they'll never pay off the note anyway, why not just pay even less per month and rent?

    Whatever. Just so they don't expect me to give them money.
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  4. 10-24-2010, 12:25 AM #4
    AspiringToBeFrugal
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    Default

    What an appropriate definition...for some!!! Actually, DH and I had a college instructor who always said "I'll never die...I still have college loans to pay off!" He was in his late 50s but had amassed quite a bit to pay for his Ph.D!
    May Goals:
    Only $300 for groceries this month - $206/$300
    Monthly coupon/valued customer savings = $14.08
    No wasted food!
    Stick to budget!
    Track spending DAILY
    Get checkbook balanced
    Save $200 toward EF: $85/$200

    2012 FV Challenges: Try New Recipes Challenge: 22/52, Menu Planning Challenge: 21/52, Grocery Reduction Budget Challenge, Change Jar Challenge: $27.81 as of 1-14-12, Lose A Pound A Week Challenge: 3/48, No Wasted Food Challenge

    2012 Goals

    1. To pay off CC (only $917.15 left!) and never again charge more than I can pay off each month.
    2. Snowball the CC payment into Sears Credit Card bill (no interest) and get it paid off ASAP.
    3. Snowball the CC and Sears card payments into hospital bill (due w/ Baby #2 via C-section in mid-January). Pay that off ASAP.4. Snowball payments into DH's student loan (as of 12/4/11 there's still $4770.84 remaining). Pay off by 12/31/12.
    5. Keep our grocery budget to $300 each month.
    6. Use Dave Ramsey's budget sheet and get on track with this each pay period.
    7. Get and keep checkbook balanced and keep an eye (weekly if not daily) on our e-statements.
    8. Get savings account up to $8,000 (incl. emergency fund)
    9. Make 2 Christmas gifts per month: 0/24.
    10. Get our home organized: use a receipt book, keep my coupon organizer in check, have a touch-once policy for paper (touch once and then file or toss).
    11. Achieve "give or get" goal of $1500 for the board I serve on by 9/30/12.
    12. Taxes filed by March 17.
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  5. 10-25-2010, 02:14 PM #5
    Telephus44
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    Default

    I looked it up on Dictionary.com - apparently it does mean "death pledge," but only because the deal "dies"


    mortgage

    1390, from O.Fr. morgage (13c.), mort gaige, lit. "dead pledge" (replaced in modern Fr. by hypothèque ), from mort "dead" + gage "pledge;" so called because the deal dies either when the debt is paid or when payment fails. O.Fr. mort is from V.L. *mortus "dead," from L. mortuus, pp. of mori "to die" (see mortal). The verb is first attested 1467.
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    Baby #2 due 5/30/2012
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  6. 10-26-2010, 10:54 AM #6
    druthb00
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    Default

    Quote Originally Posted by Telephus44 View Post
    I looked it up on Dictionary.com - apparently it does mean "death pledge," but only because the deal "dies"


    mortgage

    1390, from O.Fr. morgage (13c.), mort gaige, lit. "dead pledge" (replaced in modern Fr. by hypothèque ), from mort "dead" + gage "pledge;" so called because the deal dies either when the debt is paid or when payment fails. O.Fr. mort is from V.L. *mortus "dead," from L. mortuus, pp. of mori "to die" (see mortal). The verb is first attested 1467.

    Dictionary.com is probably the more reliable of the two sources, since the article I was reading was from a more subjective point of view rather than a definition.

    Edit: Found it.... Saving for your Dream Home - Tips and Advices Home loans are also called "mortgages," which comes from a Latin phrase meaning "pledge unto death." While lenders don't take your promise to pay quite that seriously, they DO expect to get repaid on time.

    It's the second sentence of that quote that got me; it makes it sound like until the person dies, not the loan dies.
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