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2 definitions found

From: Webster's Revised Unabridged Dictionary (1913)

 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.
 2. Hence: To pledge, either literally or figuratively; to make subject to a claim or obligation.
    Mortgaging their lives to covetise.   --Spenser.
    I myself an mortgaged to thy will.   --Shak.

From: WordNet (r) 2.0

      adj : burdened with legal or financial obligations; "his house,
            his business, indeed, his whole life was heavily