- 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 guarantee for the full repayment of the loan. Also known as a "chargor".
For most homebuyers, becoming a mortgagor is a necessary for owning a home. Because the real property in question is offered as security for the loan, the lender can claim its interest in the property in the event the loan is not repaid. This decreased risk allows homebuyers to borrow funds at much lower interest rates.
Investment dictionary. Academic. 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 — 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