Co-mortgagor

A party or individual who cosigns a mortgage loan. Co-mortgagors are jointly liable with the other mortgagor for the balance of the mortgage. Often the co-mortgagor will also receive a portion of the ownership in the asset in exchange for assisting with the loan.

It is not necessary to be a co-owner of the mortgaged property in order to be a comortgager. However, prospective co-mortgagors should carefully evaluate the financial stability of the mortgagor before signing on the dotted line. One possible situation where it might make sense to be on the mortgage but not the title of a property is where the co-mortgager is needed to qualify for the loan, but ownership of the property would create estate planning issues.


Investment dictionary. . 2012.

Look at other dictionaries:

  • mortgagor — mort·gag·or /ˌmȯr gi jȯr/ n: a person who mortgages property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. mortgagor …   Law dictionary

  • mortgagor — (n.) 1580s, agent noun in Latin form from MORTGAGE (Cf. mortgage) (v.). Native form mortgager attested from 1630s …   Etymology dictionary

  • mortgagor — ► NOUN ▪ the borrower in a mortgage …   English terms dictionary

  • mortgagor — or mortgager [môr′gi jər] n. a person who mortgages property …   English World dictionary

  • mortgagor — a person who mortgages a property. Glossary of Business Terms * * * mortgagor mort‧gag‧or [ˈmɔːgɪdʒɔː ǁ ˌmɔːrgɪˈdʒɔːr, ˈmɔːrgɪdʒər] noun [countable] FINANCE a person or organization that borrows money to buy property: • 295,000 mortgagors, 4.6%… …   Financial and business terms

  • Mortgagor — Mortgageor Mort gage*or, Mortgagor Mort ga*gor, n. (Law) One who gives a mortgage. [1913 Webster] Note: The letter e is required analogically after the second g in order to soften it; but the spelling mortgagor is in fact the prevailing form.… …   The Collaborative International Dictionary of English

  • Mortgagor — An individual or company who borrows money to purchase a piece of real property. By granting the lender an interest in the property, which allows it to lend the funds with an accurate assessment of risk, the mortgagor provides the lender with a… …   Investment dictionary

  • mortgagor — also mortgager noun Date: 1584 a person who mortgages property …   New Collegiate Dictionary

  • mortgagor — /mawr geuh jeuhr/, n. a person who mortgages property. Also, mortgager. [1575 85; MORTGAGE + OR2] * * * …   Universalium

  • Mortgagor — заемщик в ипотечном кредите …   Ипотека. Словарь терминов

  • mortgagor — mort|ga|gor [ˈmo:gıdʒə US ˈmo:rgıdʒər] n a person who borrows money from a bank or other organization in order to buy property …   Dictionary of contemporary English

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