FinanceQuestion 69 of 120
In a typical mortgage, the borrower who pledges the property as security for the loan is the:
a.Mortgagee
b.Trustee
c.Mortgagor
d.Grantee only
Explanation
The mortgagor is the borrower who pledges the property as collateral, while the mortgagee is the lender. Remembering that the borrower 'gives' the mortgage helps: the party ending in '-or' gives it. This terminology is reversed from what many people initially assume.
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