Back to Glossary
January 19, 2023
A creditor is a person or institution that gives credit by granting another entity permission to borrow money that will be repaid later. A creditor is a company that delivers goods or services to a company or individual and does not demand immediate payment, despite the fact that the client owes the company money for services already delivered.
Related Topics
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?