Comortgagor


Definition of "Co-mortgagor"

Two or more parties signing a mortgage and sharing a joint financial obligation for the mortgage terms. Under these circumstances, co mortgagors often have a joint property interest and consent to share a portion of the mortgage payments.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Growing Equity Mortgage (GEM)

A mortgage on which the interest rate is constant, but the payments are structured to increase, so the loan is paid off much earlier. ...

Seller's Market

A Seller’s Market is the opposite of a Buyer’s Market. It’s that moment when conditions of the Real Estate Market are more favo ...

Second Mortgage

Mortgage debt with a subordinate claim to the first mortgage. A second mortgage is senior to subsequent liens, and may be used to reduce the amount of ...

Ordinary Interest

Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The ...

Corporation

Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be ...

Loft Building

Building with large unpartitioned floors areas often used for storage. ...

Popular Real Estate FAQ

What Is An Appreciation?

Changes in the market conditions, or improvements to the property that increase the value of the property. ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

How Much Money Can I Borrow To Buy A Home?

To begin, you\'ll need to figure out what your gross income is (before taxes) monthly and yearly. To get a quick ballpark figure, take the yearly inc ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or certain conditions must be met before the contract ...

What Does FSBO Mean?

FSBO means for sale by owner. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Real Estate Agents Specialized in Homes for the Disabled: a Real Estate Niche What is Escrow and how does it Work? 3 Reasons Why Now Is The Perfect Time To Sell Your Home What is Hazard Insurance? How To Sell Your Home

FAQ

What is a convertible ARM? What is a debt-to-income ratio? What does the Real Estate Settlement Procedures Act (RESPA) require? What is Disability Insurance? What is a mortgage?