- A person who promises to be responsible for the repayment of a loan. In a mortgage this means the Borrower.
guarantor, borrower, covenanter
Related Terms and Acronyms
- Borrow — Definition,
- Sand, gravel or other material used for grading; a slope.
- To get a loan of money.
- Borrower — Definition,
- A person who borrows money or obtains a loan.
- Co-signer — Definition,
- A person who signs a promissory note that is also signed by one or more other parties. All parties take responsibility for the debt if any of the others renege.
- Completion Bond — Definition,
- Insurance purchased to make sure that an important project is completed, even if something unexpected happens, financial or otherwise.
- Guarantor — Definition,
- Someone who guarantees something.
- Mortgagor — Definition,
- The borrower in a mortgage transaction.