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LSDefine

Simple English definitions for legal terms

equity loan

Read a random definition: Subsequent Remedial Measures

A quick definition of equity loan:

An equity loan is when a bank gives you money using your house as collateral. This means if you don't pay back the loan, the bank can take your house. It's like borrowing money from a friend, but instead of giving them something valuable to hold onto, you give them your house.

A more thorough explanation:

An equity loan is a type of loan that allows a homeowner to borrow money using their home as collateral. The amount of the loan is based on the amount of equity the homeowner has in their home. This type of loan is also known as a home equity loan.

For example, if a homeowner has a home worth $300,000 and they owe $200,000 on their mortgage, they have $100,000 in equity. They may be able to borrow up to a certain percentage of that equity, such as 80%, which would be $80,000.

Another example is if a homeowner needs money to pay for a major home renovation, they may take out an equity loan to finance the project. The loan is secured by the value of their home, so the interest rates may be lower than other types of loans.

equity kicker | equity of exoneration

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MrThickRopes
19:15
Fo pm gon be a movie tmrw
19:19
@windyMagician: so?
19:20
Like why waste the bandwidth lmfao
why did they waste their bandwith hating on me
kinda like what you're doing rn
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LOL nvm be yourself bro
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19:51
hey do y'all know whether davis status checker changes to decision rendered once a decision is rendered?
chat am i cooked. I have not really hear back from anywhere :( only two schools that were well within my reach and got rejected
MrThickRopes
20:01
bruhhhh dobby be emailing me
20:07
whats the +/- on LSAT medians after this cycle
20:09
+5
20:09
@NemoPropheta: Not sure but here is the most recent data, comparing 2023/2024, 25th/50th/75th percentiles at each school, with a change. Penn had +5 75th and OKC had -2
20:10
@JD-Dance: according to this spreadsheet i found, yes, and they will email you with whatever the result is
20:10
also three little lines is a filter, u can filter the numbers using it in row 2
20:11
Readme tab at botton
20:12
sry whoever made spreadsheet is a rock brain fr
20:12
<3
I made a speadsheet once
MrThickRopes
23:08
Fo pm gon go crazzzzy tmrw
MrThickRopes
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We reddddy?
MrThickRopes
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Up in da club bruh got dat music goin like unc unc unc unc
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MrThickRopes crunk
I am so drunk and I wish all all the best I have so much love for every single one of you and I wish Mr. thick ropes gets into all of his schools
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Is not gonna go crazy tomorrow because it’s Good Friday but on Monday decisions are gonna roll
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