Business, Legal & Accounting Glossary
n. the right of a mortgagor (person owing on a loan or debt against their real property), after commencement of foreclosure proceedings, to “cure” his/her default by making delinquent payments. The mortgagor also must pay all accumulated costs as well as the delinquency to keep the property.
An old-fashioned term for the total package of rights that a Mortgagor has to redeem his Mortgage against the Mortgagee. See rights of mortgagor for more details.
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This glossary post was last updated: 28th April, 2020 | 0 Views.