the.com/mortgages
A 30-year bet that you'll outlive the interest you signed away.
means A long-term loan to buy property, where the property itself is collateral the lender can seize if you stop paying.
from From Old French mort gage, dead pledge — the deal dies when paid off, or when you default, whichever comes first.
Literal meaningMort plus gage equals death pledge.
Front-loaded interestEarly payments are almost all interest, not principal.
AmortizationSame root word, the slow death of debt.