Mortgager

Posted in Finance, Accounting and Economics Terms, Total Reads: 675
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Definition: Mortgager

Mortgager is the party who receives the money for purchasing property and gives the mortgage that is the property purchased in return of money as a security.

For example: Bank of America gives a loan of $50000 to Mr. X for buying a new house which costs $65000, in this case the new house is the mortgage given by the mortgager that is Mr. X to the Bank of America.




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