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LSDefine

Simple English definitions for legal terms

collateral mortgage

Read a random definition: attorney's lien

A quick definition of collateral mortgage:

A collateral mortgage is a type of loan where you use your property as security for the money you borrow. If you don't pay back the loan, the lender can take your property. It's like giving the lender a guarantee that they will get their money back. There are many different types of mortgages, like ones with fixed interest rates or ones where you can borrow more money later. It's important to understand the terms of your mortgage before you agree to it.

A more thorough explanation:

A collateral mortgage is a type of mortgage that is used as security for a loan or debt. It is a legal agreement where the borrower pledges their property as collateral to the lender. If the borrower fails to repay the loan, the lender can take possession of the property and sell it to recover the debt.

For example, if a person wants to buy a house but does not have enough money, they can take out a collateral mortgage. The lender will provide the money to buy the house, and the borrower will pledge the house as collateral. If the borrower fails to repay the loan, the lender can take possession of the house and sell it to recover the debt.

Another example is a business owner who needs a loan to expand their business. They can take out a collateral mortgage by pledging their business property as collateral. If the business fails to repay the loan, the lender can take possession of the property and sell it to recover the debt.

In summary, a collateral mortgage is a legal agreement where the borrower pledges their property as collateral to the lender to secure a loan or debt.

collateral mistake | collateral negligence

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10:30
jack my friend literally does that lol
jackfrost11770
10:30
I need the shit they had in that snow movie w Chris Evan's idc what it's made of
10:30
he drinks nutrient water and puts unflavored nutrient powders in plain water
texaslawhopefully
10:31
Good food is like one of the best parts of life
cumsock
10:31
tex give it a chance
jackfrost11770
10:31
I mean he's gonna die at like 25
jackfrost11770
10:31
I wish I could do that without consequence
texaslawhopefully
10:31
@cumsock: I have, it’s awful. The fish doesn’t even taste like fish man 😭
10:31
yeah his waist is snatched from doing that fr
JumpySubsequentDolphin
10:31
the windchill is almost -20 omfg
JumpySubsequentDolphin
10:31
BRRRRRR
@jackfrost11770: I am the same, I got a boo boo to my gallbladder so I get sick majority of the time I eat.
suddy
10:33
Soylent-maxxing
cumsock
10:33
@texaslawhopefully: do u like white fish normally i think its pollock
lilypadfrog
10:33
disordered eating will literally ruin your life and make you want to kill yourself. eating is good for you and being able to find pleasure in eating is an important part of having a fulfilling life I think
cleaning up my diet and paying more attention to what i put in my body has done wonders
texaslawhopefully
10:35
@cumsock: only really tilapia, but I prefer salmon
10:35
im with u jack, eating is a pain.
10:35
i love eating, too much
10:35
food is yummy
GreyCeaselessMammoth
10:35
I'm with curvy on this, it literally changed my life
suddy
10:36
Food is the primary joy in life
shaquilleoatmeal
10:36
i probs go over board w health, do a vitamin deficiency and nutrient level test quarterly
shaquilleoatmeal
10:36
which i highly recommend because youll know what to feed your body better
10:36
@shaquilleoatmeal: was anything surprising when u first had it done? ie way out of line?
Reading an intelligence brief I just learned of a terror group that goes by MILF the Moro Islamic Liberation Front.
JumpySubsequentDolphin
10:38
I’m severely vitamin d deficient
JumpySubsequentDolphin
10:38
I’m also anemic but I don’t take my iron bc it hurts my stomach
When in southeast Asia be careful of a MILF attack lmfao
GreyCeaselessMammoth
10:38
jumpy how are you vitamin d deficient? just go outside
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