This content has been automatically translated from Ukrainian.
You know, I have always been fascinated by the history of words and their meaning. One such word that has a rather interesting and even somewhat creepy story is – is the word "mortgage".
If you've ever wondered why the word for "mortgage" sounds like it has something about death, then you're on the right track. The roots of this word go deep into medieval England, or rather, into Old France.
The word "mortgage" comes from the French "mort gage", which literally means "dead pledge". How did it happen? A little etymology will help us here.
The French word "mort" means "death", and "gage" – is "pledge" or "guarantee". In medieval England, when someone borrowed money against property, it was a serious and risky business. If the debtor did not return the money, the pledged property "died" for him, becoming the property of the creditor. Thus, "mort gage" meant that the collateral would be lost if the debt was not paid, meaning it would become "dead" to the debtor.
In the 13th century, this word passed into the English language, where it gradually transformed into "mortgage". Interestingly, it was at a time when many legal terms entered the English language due to the influence of the Normans after the conquest of England in 1066 that the concept of collateral gained even more popularity.
It is clear that living conditions were much harsher in those days, and "mortgage" was not a simple financial deal as we understand it today. It was more like a kind of contract signed with a certain fate of fear and responsibility. The debtor risked losing everything if he could not fulfill his obligations.
Over time, of course, mortgage practices have evolved and become an important component of the modern financial system. Today, we understand mortgages as real estate loans that help people buy homes. However, if you think about the origin of this word, you can see how deep in history the roots of many modern concepts go.
So, the next time you hear the word "mortgage", think back to its medieval origins and how the term reflects the seriousness and responsibility associated with financial obligations. And let this story remind us that each word has its own story and meaning that reveals a piece of the past before us.
This post doesn't have any additions from the author yet.
