mortgagor
noun as in strong fondness
Word Combinations
Example:The bank requires that the mortgagor provide mortgage insurance.
Definition:A loan agreement for which an interest can be taken in property to secure the repayment of the loan.
From mortgage
Example:The car and its title are the collateral in this mortgagor's agreement.
Definition:Something that a debtor agrees to use as a security against a loan, and which can be seized by the creditor in the event that the loan is not repaid in full or at all.
From collateral
Example:The lender has a lien on the mortgagor's property until the loan is fully paid off.
Definition:A legal claim on a piece of property until a debt is repaid.
From lien
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