Monopoly is a very popular fast-dealing multi-player property trading board game. In this game, you have to roll two dice and move around the board to buy, sell properties and develop the properties with houses and hotels. Here, the basic gameplay is to buy and sell your properties to earn money and won the game. However, at some point in the game, you might have to mortgage your property to save yourself from bankruptcy. Today I will discuss all the details of a mortgage in the Monopoly game. Let’s explore!
What does Mortgage mean in Monopoly?
In the monopoly game, when you mortgage your property to the bank, the bank takes control of your property and gives half the money that you have spent on that property. During the mortgage period, your property remains “on hold” temporarily. Though you will still be the owner of your property but you won’t be able to build on the mortgaged property. Moreover, you won’t be able to charge rent build on. So, if any player landed on your mortgaged property then they won’t lose any cash. You should keep in mind that if your property has a house or hotel on it, then you won’t be able to mortgage the property to the bank. So, what you have to do is, sell back the houses and hotels at half of their original price and then mortgaged it to the bank.
Consequences of Mortgaging a Property in Monopoly
When you mortgage a property in monopoly, you have to face some consequences. The first thing is, that you turn the Title Deed card over. When you mortgage a property, you will receive half of the property’s original value.
Usually, the mortgage value is printed on the back of the property card. Once you mortgaged your property it becomes inactive immediately. You won’t be able to develop your property or receive any rent from your property. However, the only thing you can do with your mortgaged property is, sell the property to other players in the game. Mortgaging a property in Monopoly is very simple. Follow the below steps –
- First, you have to make sure that there is no house or hotels on the property
- Now, turn the Title Deed card over and ensure it remains face-down
- Finally, receive the cash from the bank, you will receive half the amount from the original price of the property card
How to Un-mortgage a Property in Monopoly?
The good news is, if you mortgage a property in Monopoly, then you will be able to un-mortgage it. However, in order to un-mortgage a property, you have to pay back the mortgage value as well as 10% interest. Once you un-mortgage your property, you will be able to collect the rent again. Moreover, you will be able to develop your property by adding houses and hotels. Below is the process of un-mortgaging a property in Monopoly –
- First, you have to pay the bank full mortgage value and an extra 10% interest
- Then you have to turn over the Title Deed card and make sure it remains face-up
- Finally, you will be able to collect the rent again
Rules of Trading Mortgaged Properties in Monopoly
Before playing monopoly, you must have a clear idea about all the rules of this game including the rules for the mortgaged property. Some common rules of Monopoly mortgaged property are –
- If you buy a mortgaged property then you have to pay the mortgage amount as well as the additional 10% interest to immediately un-mortgage it.
- If you don’t want to immediately un-mortgage the mortgaged property then, you have to pay the extra 10% interest plus the interest when you will decide to lift the mortgage.
An example will give you a clear idea about the above rules. Let’s say you buy a mortgaged property that has a mortgage value of $200. So, if you decide to un-mortgage it immediately then it will cost you $200 and $20 interest which means a total of $220. However, if you decide to un-mortgage the property on your next turn then it will cost you $240.
FAQs about What is a Mortgage in Monopoly
How often do you pay the mortgage in Monopoly?
In the Monopoly game, you have to pay the mortgage only one time. Once you pay the mortgage price, you will be able to receive the rent again as well as develop your property like buying a house, hotels, etc.
Can you trade property to another player while it is mortgaged?
In the monopoly game, you will be able to trade a mortgaged property to another player. The newly owned player can un-mortgage the property immediately or in the next turn. But, if the player wants to un-mortgage the property in the next turn then it will cost him/her more money.
Can you collect rent on a mortgaged property in Monopoly?
No, you won’t be able to collect rent on a mortgaged property in Monopoly. Moreover, you are not allowed add houses or hotels to the mortgaged property. Once you un-mortgaged the property you will be able to enjoy all the facilities of your property.
What is ‘mortgage value’ in Monopoly?
In Monopoly, the “mortgage value” refers to the amount that you will receive when you mortgage property to the bank. You will find the mortgage value on the back of each Title Deed card.
Can you mortgage houses in Monopoly?
No, you can’t mortgage a hose or hotel in Monopoly. In Monopoly, you are only allowed to mortgage a property. Moreover, if there is any house or hotel on the property then you have to sell the house or hotel to the bank and then you can mortgage your property. If you buy your hotel or house at the bank then you will receive half of their buying price.
Last Updated on August 7, 2022 by Ana S. Sutterfield
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.