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The Collaborative International Dictionary of English v.0.48 (gcide)

Mortgage \Mort"gage\, v. t. [imp. & p. p. {Mortgaged}; p. pr. &
vb. n. {Mortgaging}.]
1. (Law) To grant or convey, as property, for the security of
a debt, or other engagement, upon a condition that if the
debt or engagement shall be discharged according to the
contract, the conveyance shall be void, otherwise to
become absolute, subject, however, to the right of
redemption.
[1913 Webster]

2. Hence: To pledge, either literally or figuratively; to
make subject to a claim or obligation.
[1913 Webster]

Mortgaging their lives to covetise. --Spenser.
[1913 Webster]

I myself an mortgaged to thy will. --Shak.
[1913 Webster]


mortgaged \mortgaged\ adj.
burdened with legal or financial obligations; as, His house
was mortgaged to the hilt.
[WordNet 1.5]