Mortgagor or Mortgagee?

By
Real Estate Broker/Owner with Rulnick Realty, Inc.

One of the most confusing terms in real estate is “mortgagor”. Or should I say “confused” terms? It doesn’t follow the logic, seemingly, of similar words. Let’s take a look.

The “grantor” is the seller and “gives” the real estate to the “grantee” (the buyer).

The “lessor” is the landlord and “gives” the lease to the “lessee” (the tenant).

The “optionor” is the giver of an option to buy or lease to the “optionee”.

Are you catching the trend, so far?  But wait!

The “mortgagor” is NOT the giver of the loan.  And the “mortgagee” is not the recipient of the loan funds – it’s the opposite!

The mortgagor is actually the borrower, the “giver” of the security interest (or collateral) in the real property to the mortgagee (the lender) in return for the borrowed funds.

Got that?

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-259-0422
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Crestview, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida

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"It's Wendy... It's Sold!"

Wendy Rulnick, Broker/Owner Rulnick Realty, Inc.

Call Wendy Rulnick 1-850-650-7883 ext 204

email itswendy@rulnickrealty.com

www.rulnickrealty.com property searches and community info

 

Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.

Rulnick Realty

 

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