mortgagee Definition
a person or organization that lends money to someone to buy property, and who takes back the property if the loan is not paid back.
Using mortgagee: Examples
Take a moment to familiarize yourself with how "mortgagee" can be used in various situations through the following examples!
Example
The mortgagee has the right to foreclose on the property if the borrower defaults on the loan.
Example
The bank acted as the mortgagee for the homebuyer.
Example
The mortgagee agreed to extend the loan term to help the borrower avoid foreclosure.
mortgagee Synonyms and Antonyms
Summary: mortgagee in Brief
'Mortgagee' [ˌmɔːrˈɡiːdʒiː] refers to a person or organization that lends money to someone to buy property, and who takes back the property if the loan is not paid back. It is often used in legal and financial contexts, such as 'The mortgagee has the right to foreclose on the property if the borrower defaults on the loan.'
