[druthb00]

.... 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

 

[frugalwarrior2]

Because my parents bought their house cash,I do feel like it takes forever.sigh.

 

[LuLuBleen]

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

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. :lalala: Since they'll never pay off the note anyway, why not just pay even less per month and rent? :scratch:

Whatever. Just so they don't expect me to give them money.

 

[AspiringToBeFrugal]

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!

 

[Guest]

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.

 

[druthb00]

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.