1. having a mortgage; encumbered by a loan secured by property

1. past tense and past participle of mortgage; pledged property as security for a loan

Examples

• They mortgaged their house to start the business.
• The property was heavily mortgaged when they bought it.
• She mortgaged her future earnings for the loan.
• The mortgaged property cannot be sold without bank approval.
• He mortgaged his farm to pay for his daughter’s education.
• The mortgaged assets served as collateral for the debt.