Mortgagor means the person who is the ______.

Study for the Tax Collection Exam with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

Multiple Choice

Mortgagor means the person who is the ______.

Explanation:
Mortgagor is the borrower in a mortgage loan—the person who borrows funds to buy property and who makes the mortgage payments to repay the loan. The lender, not the mortgagor, holds the security interest in the property (a lien) as the mortgagee. The seller isn’t necessarily involved unless they’re the one financing the purchase. So the best description is the person paying the mortgage—the borrower.

Mortgagor is the borrower in a mortgage loan—the person who borrows funds to buy property and who makes the mortgage payments to repay the loan. The lender, not the mortgagor, holds the security interest in the property (a lien) as the mortgagee. The seller isn’t necessarily involved unless they’re the one financing the purchase. So the best description is the person paying the mortgage—the borrower.

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