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equitable mortgage

   Also found in: Legal 0.01 sec.
equitable mortgage

The declaration by a court that an instrument by which one is to pay money to another and,as a result,receive title to real property when all payments have been completed is in reality a mortgage,and the parties will be treated as if they had all the rights and responsibilities of a mortgage relationship.The exception is if an innocent third party buys the property; then the equitable mortgagor—the person making the payments—cannot recover the property but may only sue the seller for damages.See also equitable lien.



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Some of the more recent crop of laws has attempted to argue that a consumer who has received a fair and equitable mortgage transaction, but not perhaps the best one for that borrower's circumstances, is on its own an example of predatory lending.
In 1981, he became executive vice president of Equitable Mortgage Resources Co.
We will continue to execute on CoreStar's principal value of providing honest and equitable mortgages to help grow loan pipelines and market share.
 
 
 
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