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From Longman Dictionary of Contemporary Englishmortgagormort‧ga‧gor /ˈmɔːɡɪdʒə $ ˈmɔːrɡɪdʒər/ noun [countable]  a person who borrows money from a bank or other organization in order to buy property
Examples from the Corpus
mortgagorSo the court has full discretion over litigation costs incurred in proceedings between mortgagor and mortgagee.This also applies to owners taking over responsibility from defaulting tenants, and finance houses taking back property from mortgagors.The transfer to its mortgagors, the Hammonds, and its own legal charge had been registered at H.M.If the mortgagor is a lessee for years he effects the mortgage by a sub-lease.The Judicature Act decided that as against a stranger the mortgagor in possession must be treated as owner.In certain cases, a prior mortgagee may make further advances to the mortgagor which will rank in priority to subsequent mortgages.The mortgagor creates by deed a legal charge upon the land.The mortgagor had been ordered to pay the mortgagee's costs which had been taxed at £60.
From Longman Business Dictionarymortgagormort‧gag‧or /ˈmɔːgɪdʒɔːˌmɔːrgɪˈdʒɔːr, ˈmɔːrgɪdʒər/ noun [countable]FINANCE a person or organization that borrows money to buy property295,000 mortgagors, 4.6% of the total, were two months or more behind in their payments.
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