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A subsidy provided that lowers the interest rate of a mortgage for a home. For example, a developer may wish to provide incentive for home buyers and agree to pay a percentage of the mortgage for the first few years. If a home buyer has cash available and wishes to pay a lower interest rate, the home buyer can buy down a loan and pay a subsidy on the interest rate. … [Read more...] about MORTGAGE RATE BUYDOWN

Anglo-Dutch. In old New York law. A measure of land, equal to about two acres … [Read more...] about MORGEN

He that takes or receives a mortgage. Mortgagee in possession. A mortgagee of real property who is in possession of it with the agreement or assent of the mortgagor, express or implied, and in recognition of his mortgage and because of it, and under such circumstances as to make the satisfaction of his lien an equitable prerequisite to his being dispossessed. … [Read more...] about MORTGAGEE

A place where the bodies of persons found dead are kept for a limited time and exposed to view, to the end that their friends may identify them … [Read more...] about MORGUE

estate's, contracts. He who makes a mortgage. 2. He has rights, and is liable to certain duties as such. 1. He is quasi tenant, at will; he is entitled to an equity of redemption after forfeiture. 2. He cannot commit waste, nor make a lease injurious to the mortgagee. As between the mortgagor and third persons, the mortgagor is owner of the land. He can, however, do nothing … [Read more...] about MORTGAGOR