Explain the difference between a mortgagor and a mortgagee

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25-02-2024
Social Studies

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Explain the difference between a mortgagor and a mortgagee

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shady0716 shady0716 · Answer 1 · 2024-02-25T18:25:45+01:00

shady0716 shady0716

25-02-2024

- Mortgagor: This is the person who borrows money to buy a house. He is the one who contracts the mortgage debt and puts the house as payment guarantee.
- Mortgagee: It is the entity or person that lends the money to the mortgagor. The mortgagee is the one who has the legal right over the property (the house) until the mortgage debt is paid in full.

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