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Simple English definitions for legal terms

Mortgagor

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A quick definition of Mortgagor:

Term: Mortgagor

Definition: A mortgagor is someone who borrows money from a lender to buy a house or property. The lender is called a mortgagee. The mortgagor agrees to pay back the loan over time, with interest, and the property serves as collateral for the loan. If the mortgagor fails to make payments, the lender can take possession of the property through a process called foreclosure.

A more thorough explanation:

Mortgagor

A mortgagor is a person who obtains a mortgage loan from a lender to purchase a property or to secure an existing debt. The lender, in this case, is referred to as the mortgagee.

For instance, if you take out a mortgage loan from a bank to buy a house, you become the mortgagor, and the bank becomes the mortgagee. Similarly, if you already own a property and use it as collateral to secure a loan, you are still the mortgagor, and the lender is the mortgagee.

Another example is when a business owner takes out a mortgage loan to purchase a commercial property. In this case, the business owner is the mortgagor, and the lender is the mortgagee.

The examples illustrate that a mortgagor is a person or entity that borrows money from a lender to purchase a property or secure an existing debt. The lender, on the other hand, is the mortgagee who provides the loan and holds the property as collateral until the debt is fully paid.

Mortgagee | Mortmain

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TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
TGM
18:37
It’s above median, but I’m applying T6 with unimpressive softs, so even with a good LSAT it’s tough
texaslawhopefully
18:38
Yeah, then I would just wait as long as you can to send it
texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
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