Mortgagor

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Mortgagor

In a mortgage, the party that borrows funds. The mortgagor must repay the amount borrowed to the mortgagee (which is usually a bank).
References in periodicals archive ?
People continue to try to put some money to one side and mortgage holders are no different in also wanting to pay down their loan.
Our estimates, together with institutional knowledge, suggest that there are essentially five different distributions of loan-to-value ratios across mortgage holders and insurers (table B.
The bottom line is that as a result of a loan modification, mortgage holders are more easily able to make their payments and avoid foreclosure.
FIANNA Fail has called on the Government to step in to protect 13,000 vulnerable mortgage holders.
LAST Tuesday I joined Fianna Fail's Spokesperson on Finance Michael McGrath to launch a Bill to protect mortgage holders whose loans are sold by their bank to another company.
There, the mortgage holder gets control of both the former owner's shares of ownership in the building and the lease, and immediately becomes responsible for the unit's share of maintenance expenditures including past due balances and legal costs related to the foreclosure.
This is because most landlords provide in their leases that, if the holder of the mortgage acquires the property by foreclosure, such mortgage holder can terminate the lease and evict the tenant.
Aurora Highlands has been controlled by its first mortgage holder, Manulife Financial, since 1996 and consists of two 18-hole courses constructed on 247 acres of prime real estate, centrally located in the residential and commercial core in the Town of Aurora, just North of Toronto.
Although Bank of America is no longer the mortgage holder on that property, and the city has released the $5,000 bond, it remains unclear whether those charges to the homeowner have been rescinded.
The Radisson Hotel on Tara Boulevard in Nashua known for its castle-like appearce--is scheduled to be sold at foreclosure auction at the end of November as the owner and mortgage holder close in on a court settlement after months of legal wrangling in federal court.
Under the altered program, a surviving spouse of a reverse mortgage holder who isn't named in the loan document is on the hook to pay off the loan in order to keep his or her own home.
The format and structure of mortgages in the past decade combined with the impact of the Internet on the documentation and closing process will make it a whole lot easier for say, distress owners to walk away from a property, and in terms of the lender or mortgage holder activating their turnaround course.

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