mortgagor

(redirected from mortgagers)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.

mortgagor

n. the person who has borrowed money and pledged his/her real property as security for the (mortgagee). (See: mortgage, mortgagee)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

mortgagor

see MORTGAGE.
Collins Dictionary of Law © W.J. Stewart, 2006

MORTGAGOR, estate's, contracts. He who makes a mortgage.
     2. He has rights, and is liable to certain duties as such. 1. He is quasi tenant, at will; he is entitled to an equity of redemption after forfeiture. 2. He cannot commit waste, nor make a lease injurious to the mortgagee. As between the mortgagor and third persons, the mortgagor is owner of the land. Dougl. 632; 4 McCord, R. 310; 3 Fairf. R. 243; but see 3 Pick. R. 204; 1 N. H. Rep. 171; 2 N. H. Rep. 16; 10 Conn. R. 243; 1 Vern. 3; 2 Vern. 621; 1 Atk. 605. He can, however, do nothing which will defeat the rights of the mortgagee, as, to make a lease to bind him. Dougl. 21. Vide Mortgagee; 2 Jack. & Walk. 194.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
Mentioned in ?
References in periodicals archive ?
Mortgagers' risk is also reduced when actual performance approaches design performance.
Blueprint for advancing high-performance homes: even in today's harsh housing environment, high - performance homes make sense--for residents, the nation, and the environment. Here is a plan for promoting them
But Puri said buyers will now find it easy to raise higher loans as mortgagers usually use circle rates as an indicator of property prices.
PROPERTY WHAMMY Sheila orders steep hike in circle rates
In March 2008, Bear Stearns collapsed, then government-sponsored mortgagers Fannie Mae and Freddie Mac, then Lehman Brothers and Merrill Lynch, then AIG.
A Failure of Capitalism: The Crisis of '08 and the Descent into Depression
Wall Street's appetite for risky mortgages encouraged mortgagers to loosen their underwriting standards and aggressively go for volume.
Foreclosed: the failure to regulate abusive lending practices: by the end of this year, we're expecting to see foreclosures in the subprime market level off. Meanwhile, many more foreclosures are creeping into the alt-A market and even the prime markets
To the contrary, it seems that most of defaulting mortgagers are simply unable to afford the loans and have no other assets.
Chapter 2: Overcoming the financial crisis

Legal browser ?
Full browser ?