Over the course of my career in finance and in writing about mortgages, I’ve found that one good way to make conversation is to reveal little-known facts about mortgages to my friends and family. Mortgage facts tend to wow people because while most people end up getting a mortgage at some time or another, many don’t really take the time to think about where the idea came from. Here are a few facts about mortgages you can use to impress your friends at your next social gathering.
1. Mortgage is Related to Death
The word mortgage stems from the Old French word ”morgage,” or “mort gaige,” which means “dead pledge.” Your mortgage dies once you pay it off or fail to make payments.
2. The First Use of the Word Had Nothing to Do With Housing
The earliest use of the word mortgage (spelled morgage) was in the poem Confessio Amantis, which was written in the 1300s. In that poem, the word was used to describe marriage, not a home loan.
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