Advertising

Mortgagor

• This is the party that will give up the pledged asset in case of default.

• Is the borrowing party in a mortgage transaction.

 
 Embedded terms in definition
 Asset
Default
Give up
Mortgage
Will
 
 Referenced Terms
 Embedded option: Is an option whose characteristics are implied but not explicitly specified. One notable example is the option granted a Mortgagor (home owner) by the lender. The mortgagor has the right to prepay the mortgage at any time but is not required to do so in any specified manner.An option that is part of the structure of a bond that provides either the bondholder or issuer the right to take some action against the other party, as opposed to a bare option, which trades separately from any underlying security.

 Prepayment: A payment made ahead of the scheduled payment date.Is an additional principal amount in excess of the required amount paid by the Mortgagor to reduce the open mortgage balance.

 Prepayment option: All mortgages contain a prepayment option. The prepayment option gives the Mortgagor (i.e., the homeowner) the option to get out of the obligation of the mortgage by "prepaying all of the remaining principal on the mortgage. The mortgagor can exercise this option at any time during the life of the mortgage.

<< Mortgager Most active >>

What Happens If a Bank Fails?: How the FDIC protects depositors, including providing quick access to insured funds. More...

If you are all wrapped up in yourself, you are overdressed - Kate Halverson

Advertising



Copyright 2009-2019 GVC. All rights reserved.