Real Estate Term of the Day: Co-Mortgagor

Real Estate Term of the Day: Co-Mortgagor

CO-MORTGAGOR (aka: co-borrower or co-signer) – one who signs a mortgage contract with another party or parties and is thereby jointly obligated to repay the loan.  Generally a co-mortgagor provides some assistance in meeting the requirements of the loan and receives a share of ownership in the encumbered property (Barron’s Dictionary of Real Estate Terms)

Below are a few examples of common co-mortgagors:

  • Spouse
  • Parent(s)
  • Sibling
  • Relative
  • Friend
  • Business Partner

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