The Portuguese word for mortgage is hipoteca.
Hipoteca is defined as a debt instrument that is secured by the collateral of specified real estate property and that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large purchases of real estate without paying the entire value of the purchase up front. The term originates from the Latin and Greek languages, being spelled as hypotheca and hypóthiki , respectively. In English, the term was borrowed from the French mortgage , which means “dead pledge” .
This type of financing, hipoteca was not popular in Brazil until 2004. The main reason was the instability of the judiciary system that couldn’t to ensure that, in the absence of payment, the bank would receive the property, because the 1988 Constitution and federal laws. With the Law of Fiduciary Alienation known in Portuguese as Lei de Alienação Fiduciária, the banks could sell properties and guarantee their rights ownership rights.
- Eu terminei de pagar a hipoteca dos meus pais em 2012.
I finished paying off my parents’ mortgage in 2012.
-Ronaldo fez apenas pagamentos parciais daquela hipoteca por três meses em 2012.
Ronaldo made only partial payments on that mortgage for 3 months in 2012.
- O programa de hipotecas, subsidiado pelo governo aos credores, tem tido muitos problemas desde o seu início em 2011.
The mortgage program, subsidized by government to lenders, has had many troubles since its introduction in 2011.
- A média da taxa de hipoteca fixa de 30 anos vai subir para 2 por cento ano que vem.
The average on the 30-year fixed mortgage rate will rise to 2 percent next year.
To know more about hipoteca and the differences between Brazil and Europe , I recommend this article (in Portuguese):