Crossword-Solution: MORTGAGOR 9 letters, 5 clues 🏆 scrabble score: 13

The Parliament, imperfectly and capriciously elected as it is, is nevertheless supposed to hold the national purse in trust for the nation; but in the manner in which an English Parliament is constructed it is like a man being both mortgagor and mortgagee, and in the case of misapplication of trust it is the criminal sitting in judgment upon himself.

With regard to internal improvements in which the State is interested, the Commission has all the authority formerly exercised by the Board of Public Works; appoints State directors and State proxies for works in which the State is interested; keeps a register of all property belonging to the State; represents the State in relation to all corporations whether as a stockholder, creditor, mortgagor, or otherwise.

Now the mortgagor who has failed is usually given by law an extension of time in which to make good the payment of principal and interest.

EQUITY OF REDEMPTION Where the payments on a mortgage have not been met and the instrument has not been foreclosed, the mortgagor has still what is known as an "equity of redemption." In some states after the foreclosure of the mortgage and the sale of the property there is still a period of redemption of from sixty days to six years.

Mortgagees can hold the land of any mortgagor who borrows money upon security of the land or obtains another mortgage without prior notice to the initial mortgagee.