Cartoonist Mankoff has done it again! In his cartoon in the Oct. 28 edition of The Times, he means the "mortgagors," not the "mortgagees." The mortgagor is the payer under a mortgage, the mortgagee is the payee, or the one receiving payment.
Mankoff would do well to take a real estate course: He reveals Eastern ignorance about California real estate. There are no mortgages in California; we use trust deeds, which were invented here. Under a trust deed, the payer is called the "trustor" and the payee the "beneficiary"; the third party, the "trustee," only reconveys or forecloses.
HENRY W. KYSTER
Los Angeles
