anaconda mortgage | Idiomator

Meaning: (chiefly southernUS,idiomatic,dated,law,finance)Aloanarrangement in which all of the moneyborrowedfrom alender, for whatever purpose, issecuredby one's home, land, and other property.Synonym:dragnet mortgage1889, W. Scott Morgan,History of the Wheel and Alliance and the Impending Revolution,page59:[I]t was not given to the prophet Isaiah even, to look down the vista of time for 2,500 years and read the Statutes of Arkansas. Under them every man who executes ananaconda mortgageis considered to plant and eat not; for them the heavens might as well be brass and the earth iron.1988,Michael Schwartz,Radical Protest and Social Structure: The Southern Farmers' Alliance and Cotton Tenancy, 1880-1890,→ISBN,page59:Furthermore, the merchants soon discovered theAnaconda mortgage, which forced the owner to back up his crop lien with everything he owned — land, money, and personal property.1997,Edward Countryman,Americans: A Collision of Histories,→ISBN,page226: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.

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