anaconda mortgage
nounEtymology
An allusion to being trapped in the crushing coils of a large constrictor snake, such as an anaconda, suggesting the crushing burden of such debt.
Definitions
A loan arrangement in which all of the money borrowed from a lender, for whatever…
A loan arrangement in which all of the money borrowed from a lender, for whatever purpose, is secured by one's home, land, and other property.
- Furthermore, the merchants soon discovered the Anaconda mortgage, which forced the owner to back up his crop lien with everything he owned — land, money, and personal property.
- In 1883 Alabama established the "Anaconda" mortgage, which "gave the landlord the right to take not only his tenant's crop . . . but also his furniture, household goods, and personal effects," again with primacy over merchant claims.
The neighborhood
Vish — recursive loop
No curated loop yet for anaconda mortgage. Loops are being traced one word at a time while the ingestion pipeline matures.
sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA