In a mortgage agreement, the mortgagor is the individual or party that takes out a loan to finance the purchase of a property. They are the borrower who pledges the property as collateral for the loan. The mortgagor is responsible for making timely mortgage payments to the lender and is the legal owner of the property.
The mortgagor, in a mortgage agreement, refers to the borrower or the individual who receives the loan from a lender or a financial institution. The mortgagor is typically the property owner who pledges their property as collateral for the loan.
