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Delightful, that is, if you're not the mortgagee.
The mortgagor (debtor) conveyed the ownership of land to the mortgagee subject to the condition that, if the mortgagor repaid a debt he owed the mortgagee by a certain time, the mortgagee would reconvey the land to the mortgagor.
"The mortgages on which MERS is the mortgagee will remain binding contracts".
FirstPlus specialised in the 125% mortgage, which allows the mortgagee to borrow more than the value of the accompanying security.
Real property was not liable unless it had been specifically mortgaged, in which case the mortgagee had his remedy of foreclosure.
KB Home paid $3.2 million to settle the HUD action without admitting liability or fault, one of the largest settlements collected by the agency's mortgagee review board.
Similar(24)
They are mortgagors, not mortgagees.
Many more mortgagees will be hurt by lost housing equity.
Many mortgagees, clinging to homes they can no longer afford, embrace a similar argument.
There's no powerful D.C. lobby supporting Americans in Foreclosure, no mass movement of underwater mortgagees.
Fewer mortgages might be written, but more mortgagees would stay solvent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com