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When you buy a home and take out a mortgage on it you become, in real estate parlance, " the •* mortgagor. As such, you are obliged to repay that mortgage over a period of time. Most everyone knows this, but people often wonder EXACTLY what rights they have as mortgagor.. It boils down to the simple, basic question of who owns the property. Do you as the person (or persons, if there’s a family) who lives there and pays th * payments own it? Or does the mortgagee (the money lender) own it?
You, the mortgagor are generally considered the real owner of the property. You also have certain recognized, important rights. One of these rights is possession
If
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