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LSDefine

Simple English definitions for legal terms

further advance

Read a random definition: fitness

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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13:51
I do think people might be using the term unicorn PI too liberally
13:51
Used to mean career outcomes that were pretty much only possible out of HYS and maybe NYU
Some consider Unicorn PI to include things like Asst US Attorney. In that case, you can achieve that by going anywhere that will allow you sit for the bar so long as your grades are strong and your internships and/or clerkships align.
16:34
Chowie go to Berk cause that's probably where I end up
16:34
But in all seriousness I would take Miami. If you're 100% committed to PI I don't think the .1% outcome that may be possible from Berk is worth taking on insane debt
has anyone heard back on a saturday or sunday?
and do we think any school would send out decisions on monday (since its presidents day)
techsplitter
19:01
no
20:10
take full ride 100%
20:11
@ChowieBean: ^
20:47
@LeanDeadCloud: HR works m-thu 10-2
J-Reuben-Clark-Law
11:50
Good for UT Austin people: https://www.youtube.com/watch?v=MWTt77PPg4Q
J-Reuben-Clark-Law
17:18
"The man of talent is like a marksman who hits a mark others cannot hit; the man of genius is like a marksman who hits a mark they cannot even see to."
omelette
8:21
today's gonna be quiet asf just like this past weekend
omelette
8:25
some schools are open today tho apparently like columbia so some decisions might be imminent
UGA🫵🏻
Just got my acceptance to NCCU last week + I did my interview with Elon (not too exciting they give every applicant one).
Also received rejections from UNebraska and Wake
omelette
10:04
congrats on NCCU!
BatmanBeyond
11:51
I got waitlisted at an in-state school above both medians. The whole idea was that it's a cheaper, accessible option than my sole A. This cycle is brutal.
BatmanBeyond
11:52
Not even motivated to write a LOCI, but even if I get in, should I expect no scholarships?
omelette
11:52
you can still get schollies off the waitlist but maybe not a full ride yk
BluePacedCephalopod
11:56
sounds like yield protection
BluePacedCephalopod
11:56
fwiw i got put on then taken off my safety's WL in about a month and then got a 75% scholly
BatmanBeyond
12:18
@BluePacedCephalopod: did you write a LOCI?
BluePacedCephalopod
12:18
no they reached out for an interview
12:28
has UVA done any admit in the past few days?
omelette
13:18
yes 2/13 and 2/14, they wouldnt release on a weekend
thecableguy7
15:06
UT Austin today?
J-Reuben-Clark-Law
15:16
More like UTI Austin am I right ladies.
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