Installment vs Mortgage - What's the difference?
installment | mortgage |
The act of installing; installation.
(obsolete) The seat in which one is placed.
A portion of a debt, or sum of money, which is divided into portions that are made payable at different times. Payment by installment is payment by parts at different times, the amounts and times (often equal namely regular, e.g. mensual) being often definitely stipulated.
a part of a broadcast or published serial.
anything that is performed in parts, spread in time
(legal) A special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land. The assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower. Once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.
(obsolete) State of being pledged.
(legal) To borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.
(figurative) To pledge and make liable; to make subject to obligation; to achieve an immediate result by paying for it in the long term.
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In obsolete|lang=en terms the difference between installment and mortgage
is that installment is (obsolete) the seat in which one is placed while mortgage is (obsolete) state of being pledged.As nouns the difference between installment and mortgage
is that installment is the act of installing; installation or installment can be a portion of a debt, or sum of money, which is divided into portions that are made payable at different times payment by installment is payment by parts at different times, the amounts and times (often equal namely regular, eg mensual) being often definitely stipulated while mortgage is (legal) a special form of secured loan where the purpose of the loan must be specified to the lender, to purchase assets that must be fixed (not movable) property such as a house or piece of farm land the assets are registered as the legal property of the borrower but the lender can seize them and dispose of them if they are not satisfied with the manner in which the repayment of the loan is conducted by the borrower once the loan is fully repaid, the lender loses this right of seizure and the assets are then deemed to be unencumbered.As a verb mortgage is
(legal) to borrow against a property, to obtain a loan for another purpose by giving away the right of seizure to the lender over a fixed property such as a house or piece of land; to pledge a property in order to get a loan.installment
English
Alternative forms
* instalment (Commonwealth)Etymology 1
From install, itself from (etyl) installer, from installare, from (etyl) in- + ML stallum 'stall' (from Germanic stal, see below)Noun
(en noun)- Take oaths from all kings and magistrates at their installment , to do impartial justice by law. Milton.
- The several chairs of order, look, you scour; . . . Each fair installment , coat, and several crest With loyal blazon, evermore be blest. Shakespeare.