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Simple English definitions for legal terms

further advance

Read a random definition: bifurcated trial

A quick definition of further advance:

Further advance: When someone borrows money to buy a house, they usually get a loan called a mortgage. Sometimes, the person who lent the money (the mortgagee) might agree to lend more money to the borrower (the mortgagor). This is called a further advance. It can be on the same thing that was used as security for the first loan, or on something else. Another meaning of further advance is when the interest that someone owes on their mortgage gets added to the amount they borrowed, so they end up owing more money overall.

A more thorough explanation:

Definition: A further advance is a second or subsequent loan given by a mortgagee to a mortgagor. This loan can be given on the same security as the original loan or on an additional security. It can also refer to the conversion of arrears of interest on a mortgage security into principal.

1. John took out a mortgage on his house and later needed more money. He went back to the same mortgage company and asked for a further advance on his mortgage. The mortgage company agreed to give him the additional loan on the same security as the original loan.

2. Mary fell behind on her mortgage payments and owed a lot of interest. She asked her mortgage company if they could convert the arrears of interest into principal so that she could pay it off over time. This is an example of a further advance.

These examples illustrate how a further advance works. In the first example, John needed more money and was able to get it from the same mortgage company. In the second example, Mary was able to convert her arrears of interest into principal, which made it easier for her to pay off her mortgage over time.

furta | further assurance

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10:31
i feel so unprepared even though ive done 5 PTs averaging 178
Holy self reported data
10:46
i want a caesar salad
10:46
real soggy one
10:47
with beans on it and no croutons who's with me
eggan
10:48
just withdrew from all my WLs yall im officially committed
MrThickRopes
11:11
Uhh
MrThickRopes
11:11
Yeeaahhh
@bigfatsloth: beans?
ParallelAgreeableOrangutan
11:33
congrats eggan! where are you going?
ParallelAgreeableOrangutan
11:33
beans is crazy
Thoughts on Indiana Maurer vs Iowa Law? Cost would be very similar for me
Well I was gonna tell you stuff about Iowa but you're already a resident so I think you are well in the know'
Actually, I would love some Iowa/Iowa City tips! I am a resident, but I really live in Omaha. I moved across the river specifically for the in statue tuition a while back.
11:43
What kinda law you wanna do? Maurer has a great cyber program
I'm really not sure. My background is corp procurement. I don't want to do family law, and I think I want to stay away from criminal.
11:46
I would probably do Indiana given your scholly amounts
11:49
Indiana has good fed gov placements if that’s your vibe
eggan
11:49
@ParallelAgreeableOrangutan: im going to fordham
@eggan: congrats!!!!
eggan
11:50
ty!! i got $$.5 so it was a no brainer
@LawOfAchilles: i think, if the CoA is similar, it depends maybe on where you want to practice? If you want to end up practicing in Omaha, maybe Iowa is better?
11:52
Whenever someone mentions Fordham I can only think of Whiplash
ParallelAgreeableOrangutan
11:52
nice, congrats!
@eggan: money talks!
ParallelAgreeableOrangutan
11:52
esp with the scholarship!!
I don't really know where I want to end up practicing yet, but I've enjoyed living in the midwest so far. I think I might ultimately like to end up as in-house corporate for the work life balance.
ParallelAgreeableOrangutan
11:53
I lived in Bloomington for a long time, can't speak to the law school but can answer Qs about the city if you'd like
@ParallelAgreeableOrangutan: How do you think it is to live in as a 20-something going to grad school? The comparison is Iowa city, so not an extremely high bar for liveliness. (No offense intended towards IC. I think it's a lovely place)
NosyBeagle
11:56
@NemoPropheta: taking it in august. feels like ill never be ready but f it we ball
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