Legal Glossary
Defaulting Mortgager
Property
Definition
When a person (mortgagor) borrowed money from a financial institution (bank) to buy a property, breaches (default) the loan agreement (mortgage), which may lead to the sale of that property.
When a person (mortgagor) borrowed money from a financial institution (bank) to buy a property, breaches (default) the loan agreement (mortgage), which may lead to the sale of that property.