Who is the mortgagor?

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Multiple Choice

Who is the mortgagor?

Explanation:
In a mortgage, the mortgagor is the borrower who pledges the property as security for the loan. That borrower is typically the property owner who receives the funds and agrees to repay, creating a lien on the home. The lender is the mortgagee, the party that provides the loan and holds the lien until repayment. A real estate broker facilitates the transaction but isn’t a party to the mortgage, and an insurer handles property insurance rather than the loan. So, the mortgagor is the property owner who borrows money and pledges the home as collateral.

In a mortgage, the mortgagor is the borrower who pledges the property as security for the loan. That borrower is typically the property owner who receives the funds and agrees to repay, creating a lien on the home. The lender is the mortgagee, the party that provides the loan and holds the lien until repayment. A real estate broker facilitates the transaction but isn’t a party to the mortgage, and an insurer handles property insurance rather than the loan. So, the mortgagor is the property owner who borrows money and pledges the home as collateral.

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