mortgagor


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Synonyms for mortgagor

the person who gives a mortgage in return for money to be repaid

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References in periodicals archive ?
Clearly, the general rule is that personal notice to the mortgagor in extrajudicial foreclosure proceedings is not necessary, and posting and publication will suffice.
A mortgagor is eligible for HAMP if he meets certain basic requirements detailed in the HAMP guidelines.
In McQueen, the plaintiff lender sought to foreclose and named both the mortgagor and his estate, despite knowing that the mortgagor was dead and no estate had been opened for him.
This article describes the remedies available to the mortgage lender (mortgagee) against the mortgagor in default of the standard residential mortgage in Canada.
Under the standard mortgagee clause (also known as a "union" mortgagee clause), a mortgagee is entitled to direct payment for a loss to the extent of its interest at the time of the loss, independent of whether the named insured mortgagor complied with its policy obligations.
After substantial class discussion, a student will ask the inevitable question: "Why shouldn't a mortgagor in default simply wait to act until the foreclosure sale and then attempt to be the successful foreclosure purchaser?
Deed in Lieu usually refers to a deed given by a mortgagor to a mortgagee when the mortgage is in default under the terms of that mortgage.
Thus, if $150,000 were recovered from the bank, the mortgagor would receive $75,000 (half of $150,000).
In a credit-tight market, the clause acts more to the detriment of the lender than the mortgagor, as the onus is on the lender to persuade the low-cost mortgagors into liquidating their mortgages and releasing the funds in the market to the benefit of both the lender and the mortgagor.
In both cases, the mortgagor's interest in the property is terminated, title to the property is transferred to someone else and the mortgagor receives nothing from the transaction.
Record low housing affordability is pressuring mortgagors, and the global credit crisis has increased funding costs for lenders.
At around the same time that the complaints in these cases were pending, the same circuit court was considering still another matter, Wells Fargo v McQueen, No 05-CH-12846 (November 2, 2006), in which the mortgagor had also died before the filing of the mortgage foreclosure complaint.
It ruled that the fact that the statute expressly prohibits a mortgage lender from imposing fees for payoff letters demanded in writing, does not grant license to impose unwarranted and unauthorized fees merely because the mortgagor happens to request the payoff documents by telephone.
Fitch believes the above credit enhancement will be adequate to support mortgagor defaults as well as bankruptcy, fraud and special hazard losses in limited amounts.
The court held that "a mortgagee must name a personal representative for a deceased mortgagor in a mortgage foreclosure proceeding in order for the circuit court to acquire subject matter jurisdiction.