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mort·gage

mortgage

 
 
pronunciation:
mor gihj
features:
Word Parts
part of speech: noun
definition: a written agreement by which a bank or other institution agrees to lend money so that one can buy a property. The bank holds a claim to this property until the money is paid back.
My parents were approved for a mortgage, so now we can buy that house we liked.
similar words:
bond, contract, warrant
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