Reminds me of a quote I ran across whilst surfing the 'net some time back. I'm into etymology (words and word origins) and got curious as to exactly where the word "mortgage" comes from. Literally translated, it means "dead pledge". I think the 17th Century English jurist Edward Coke said it best:
"It seemeth that the cause why it is called mortgage is, for that it is doubtful whether the Feoffor will pay at the day limited such summe or not, & if he doth not pay, then the Land which is put in pledge vpon condition for the payment of the money, is taken from him for euer, and so dead to him vpon condition, &c. And if he doth pay the money, then the pledge is dead as to the Tenant, &c."
Sorta makes ya think, don't it?
Regards,
Scott Perry
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