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LSDefine

Simple English definitions for legal terms

consolidated mortgage

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A quick definition of consolidated mortgage:

A mortgage is a way to borrow money to buy a property. It's like a promise to pay back the money you borrowed, with interest, over a certain period of time. If you don't pay back the money, the lender can take the property. There are different types of mortgages, like ones with a fixed interest rate or ones where the interest rate can change. A consolidated mortgage is when two or more mortgages are combined into one.

A more thorough explanation:

A consolidated mortgage is a type of mortgage created by combining two or more mortgages. A mortgage is a legal agreement in which a borrower uses their property as collateral to secure a loan. The borrower must make regular payments to the lender until the loan is fully paid off. If the borrower fails to make payments, the lender can foreclose on the property and sell it to recover their money.

For example, if a homeowner has two mortgages on their property, they can combine them into one consolidated mortgage. This can make it easier to manage their payments and potentially lower their interest rate. The consolidated mortgage would cover the total amount owed on both mortgages and the borrower would make one monthly payment to the lender.

consolidated laws | Consolidated Omnibus Budget Reconciliation Act of 1985

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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