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mortgagor vs. mortgagee

mortgagor vs. mortgagee: What's the difference?

When you take out a mortgage, the mortgagee is the entity (typically a bank) who gives you the loan, and you are the mortgagor, or the person who receives the loan. In other words, the mortgagee lends the mortgagor money for the mortgagor to use to purchase house, which then serves as security for repayment of the loan.

[ mawr-guh-jer ]
  1. a person who mortgages property.
[ mawr-guh-jee ]
  1. a person to whom property is mortgaged.

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