The word "mortgage" is derived from the Old French word "mort gaige," which literally means "dead pledge." This term referred to a type of loan in which a borrower would pledge their land or property as collateral for a loan, with the understanding that if the loan was not repaid, the lender would have the right to seize the property. The term "mortgage broker" refers to a person who mediates between borrowers and lenders in the process of obtaining a mortgage loan.
The word “real estate” is derived from the Latin word “res,” meaning “thing,” and “status,” meaning “state” or “condition.” Together, the term refers to the state or condition of land and property. The meaning of the term has not changed significantly over time, although the way in which land and property are bought, sold, and managed has evolved significantly throughout history.