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LSDefine

Simple English definitions for legal terms

home equity

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A quick definition of home equity:

Home equity is the amount of money that a homeowner owns in their home. It's like a savings account that grows as the value of the home increases and the mortgage loan is paid off. For example, if a person buys a house with a loan and pays 20% of the price, then they own 20% of the home and the lender owns the other 80%. As the homeowner pays off the loan, their equity in the home increases. Home equity can be affected by changes in the housing market and the amount of debt owed on the property.

A more thorough explanation:

Home equity refers to the value of a homeowner's ownership interest in their home. It is calculated by subtracting any outstanding liens or debts on the property from its current market value.

For example, if you bought a house for $300,000 with a mortgage loan and have paid off $100,000 of the loan, your home equity would be $100,000. This means that you own one-third (or 33.33%) of the property, while the lender still has a two-thirds (or 66.67%) interest in the house until the loan is fully paid off.

The amount of home equity you have can change over time due to various factors, such as changes in the local real estate market or improvements you make to the property that increase its value.

Having home equity can be beneficial for homeowners, as it can be used as collateral for loans or lines of credit, or as a source of funds for major expenses like home renovations or college tuition.

holographic will | home office

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AngryMiniCar
10:12
@GatorNation: I don't know that school all that well. But it's ranked really low and usually rankings don't matter much if you're just trying to practice. But I'd be careful and look on reddit. Cause some of these schools can be highkey predatory.
AngryMiniCar
10:15
Like some schools have a conditional scholarship that they take away from you at the drop of a hat and no faculty support in 1L so a lot of people get fucked. I know someone who got screwed by Western New England. Not saying that it is just that I wouldn't think of making it my go-to without digging into it.
10:23
Ok thank you!
10:35
check the 509 report, should show bar passage rate, employment data, and percent of students that retained their scholarship after 1L
lolla after show tickets used to be $20 and now they're fucking $70
I HATE U MUSIC INDUSTRY I HATE U LIVENATION
@GatorNation: are you trying to stay/go to florida for school?
Mostlylegal
11:43
im retiring from lsd yall,
Mostlylegal
11:43
thank you all for the laughs
Mostlylegal
11:44
let this be my formal termination notice
oh no
Mostly where are you going
hey alexa play you'll be black from hamilton
**back
NosyBeagle
12:13
hamilton but he frees the slaves and has to figure out what their racial demographics are for the census
12:17
has anybody compiled the transfer median gpas for law schools anywhere
12:18
instead of having to check each schools 509
12:24
@c0bra1: not that I've seen
12:24
lame
12:24
I think the transfer reddit had a spreadsheet at one point but it's a few years old
@NosyBeagle: I almost fell out of my chair
globalcitizen
13:46
Anyone read annihilation
NosyBeagle
14:40
@windyMagician: I'll be here all week
15:02
yo
15:02
i was training this new girl & she quit on second day
15:03
goin on 6 mo no word from notre dame
whenever someone has the free will to create a protein bar with a texture/appearance unlike an actual log of shit, pls someone send it to me
AngryMiniCar
16:51
any chance I'll improve RC just by hard drilling with no review? I honestly think I just have a reading problem atp
AngryMiniCar
16:51
Not even that I don't know how to answer questions. I think I'm simply not well read
@AngryMiniCar: they say the biggest thing for improving RC over time is just... reading. so yeah! go pick up some books. grab a harder one
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