Mortgage Holder (Noun)
Meaning
The person who accepts a mortgage; "the bank became our mortgagee when it accepted our mortgage on our new home".
Classification
Nouns denoting people.
Examples
- The bank became our mortgage holder when it accepted our mortgage on our new home.
- As the mortgage holder, the lender has the right to repossess the property if payments are not made.
- The couple had to negotiate with their mortgage holder to temporarily suspend payments due to financial hardship.
- After the divorce, she became the sole mortgage holder of the family home.
- The mortgage holder can sell the property at a public auction if the borrower defaults on the loan.