Answer:
Mortgagor
Explanation:
A mortgagor is a person that borrows money from a lender usually called a mortgagee for a real estate purposes.
In a mortgage transaction, the borrower is the the mortgagor while the lender is the mortgagee.
In the case of the above question, Tom is a mortgagor because he is borrowing money from Joe who is a lender and even providing a security for the loan.
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