(the Mortgagor) of the first part, 2025

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In a mortgage transaction , the mortgagor is the party that borrows money from the mortgagee . Thus, when you get a mortgage from a lender , you are a mortgagor and the lender is a mortgagee.
The mortgagor is required to make monthly payments of principal and interest in order to keep the loan in good standing with the mortgagee. Mortgage loan contracts also include provisions for title ownership and a lien on the real estate property as collateral.
The mortgagor is the person or entity who borrows and pays back a mortgage loan. If youre getting a mortgage to buy a home, youre the mortgagor. The mortgagee is the lender, such as a bank, credit union or online lender. This is the entity providing the funds via a mortgage to buy a home.
Mortgagee. While the mortgagor makes regular payments on the loan and agrees to a lien on the mortgaged property as collateral for the mortgagee, the mortgagee sets the loan conditions, oversees loan payments and maintains the right to seize the property if the mortgagor falls behind on their payments.
Each month, part of your monthly payment goes toward paying off the principal and part pays interest on the loan. Interest is what the lender charges you for lending you money. Most peoples monthly payments also include additional amounts for taxes and insurance.
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