Webmortgagor definition: a person or organization that borrows money from a bank in order to buy a house or other property: . Learn more. WebAug 18, 2024 · Mortgagor definition. A mortgagor is simply another word for “borrower.” In the context of a mortgage purchase or refinance loan, that means you.
Mortgagor - definition of mortgagor by The Free Dictionary
WebHistory: P.A. 80-423 included letters of credit in Subsec. (a) and made minor changes in wording; P.A. 82-243 amended Subsec. (e) by adding a definition of “any person who is secondarily liable”; P.A. 97-320 amended Subsec. (a) by adding “be deemed to give sufficient notice of the nature of the obligation”, deleted Subsec. WebMar 20, 2024 · Co-mortgagor: A party or individual who cosigns a mortgage loan. Co-mortgagors are jointly liable with the other mortgagor for the balance of the mortgage. … booking melbourne airport parking
Mortgagor - Definition, Example, Characteristics, How it …
WebMortgagors Explanation. The mortgagors have to go through complex procedures to obtain a secured loan Secured Loan Secured loans refer to the type of loans approved … WebJul 22, 2024 · Fixed-Rate Mortgage: A fixed-rate mortgage is a mortgage that has a fixed interest rate for the entire term of the loan. The distinguishing factor of a fixed-rate mortgage is that the interest ... Webmortgage: [noun] a conveyance (see conveyance 2a) of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. booking meeting rooms in office 365