Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contingent-interest mortgage

Read a random definition: deserter

A quick definition of contingent-interest mortgage:

A contingent-interest mortgage is a type of loan where the interest rate is based on how well the property being used as collateral performs economically. If the property does well, the interest rate goes up, and if it does poorly, the interest rate goes down. This type of mortgage is different from a traditional mortgage where the interest rate is fixed.

A more thorough explanation:

A contingent-interest mortgage is a type of mortgage where the interest rate is directly related to the economic performance of the pledged property. This means that if the property's value increases, the interest rate on the mortgage will also increase, and if the property's value decreases, the interest rate will decrease as well.

For example, let's say John takes out a contingent-interest mortgage on his house. If the value of his house increases, the interest rate on his mortgage will also increase, and he will have to pay more in interest. On the other hand, if the value of his house decreases, the interest rate on his mortgage will decrease, and he will have to pay less in interest.

Contingent-interest mortgages are not very common, and they can be risky for both the borrower and the lender. If the property's value fluctuates too much, the borrower may end up paying much more in interest than they anticipated, and the lender may not receive enough interest to cover their costs.

contingent guaranty | contingent legacy

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.