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 ?
(3.) A "due-on-sale" clause inhibits the mortgagor from gaining from his/her low cost mortgage.
Laws which benefit the mortgagor through slowing the foreclosure process or limiting remedies through deficiency judgments result in greater losses for insurers and, because of the coinsurance nature of the contracts, lenders.
In Kapila, 184 F.3d at 1338, the court held the assignee's failure to record did not render the mortgage unperfected in the mortgagor's bankruptcy.
A: When the mortgagee does not directly deal with the registered owner of the real property, like an attorney-in-fact of the owner, it is incumbent upon the mortgagee to exercise greater care and a higher degree of prudence in dealing with such mortgagor.
Subject to the provisions of Article 53 (2) of this Law, if the mortgagor or its guarantor or the successors or assigns fail to pay the debt, the Judge of Summary Matters shall, upon request of the mortgagee/creditor, issue a decision directing the sale of the mortgage property by public auction in accordance with the applicable procedures of the competent court."
Bragman would require that every mortgage investing institution make those payments promptly, and that failure to do so would result in the institution paying for penalties that would otherwise be charged to the mortgagor. "Every mortgage investing institution must provide annually and at no cost an analysis of the mortgagor's real property escrow account." said Bragman.
During the course of inquiry, the evidence collected revealed that the accused persons Mehr Ahmad Shoaib ur Rehman Lakk and Mehr Zia ur Rehman Lakk, Director / Mortgagor / Guarantor of M/S Lakk Developers in active aid, abetment and assistance of others committed the offence of willful loan default which is punishable under National Accountability Ordinance (NAO) 1999.
In such a case the security holder's possession of the chattels is likely to be an unwanted result of the eviction and of the mortgagor's failure to clear the premises before leaving.
Part II explains why HAMP was instituted and the process it sets forth for a mortgagor to obtain a permanent modification of a home mortgage.
If the property was mortgaged, it was common for the mortgagor (the bank or building society lending the money) to hold the title deeds in their offices until the loan was repaid.
The mortgagor, du'Glace, LLC, and a guarantor of the mortgage debt, Douglas Holt, appeal the deficiency judgment rendered against them in favor of Banco Popular North America (Banco) in the amount of $281,910.
It is usually granted only when a mortgagor makes a satisfactory arrangement by which the arrears will be paid at a future date.