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LSDefine

Simple English definitions for legal terms

dismortgage

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A quick definition of dismortgage:

Dismortgage is a term used to describe the act of paying off a defaulted mortgage debt by a borrower who does not want to lose their property. It is also known as redemption. This means that the borrower can reclaim their property by paying a specific price. It is important to note that there is a specified period within which the borrower can recover their property after a foreclosure or tax sale by paying the outstanding debt or charges. This is known as statutory redemption. Tax redemption is another form of dismortgage where a taxpayer can recover their property taken for nonpayment of taxes by paying the delinquent taxes, interest, costs, and penalties.

A more thorough explanation:

Definition: Dismortgage refers to the act of paying off a defaulted mortgage debt by a borrower who does not want to lose the property. It is also known as redemption.

Example: John had taken a mortgage to buy a house, but he was unable to make the payments on time. As a result, the bank threatened to foreclose on the property. To avoid losing his home, John decided to dismortgage by paying off the outstanding debt.

This example illustrates how dismortgage or redemption can help a borrower keep their property by paying off the defaulted mortgage debt.

dismission | Disneyland parent

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General chat about the legal profession.
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jackfrost11770
16:51
Hence Idk what to expect even capacity wise
jackfrost11770
16:51
But I'm literally still 30 minutes from home and it's in 10 min so unless I join on my phone with no camera or mic then I cannot lmao
jackfrost11770
16:55
You know what if Cornell don't want me they don't me I'm not worrying myself over this
16:57
There was a Vandy wave today?
GodsPlanUltimately
16:57
@jackfrost11770: What a excellent mindset. Cornell must have poor taste
1. Kansas 196. Cornell
nope cornell can be 2.
cornell is incredibly based
our professors are sigmapilled goonmaxxers
i see, a quality education
GodsPlanUltimately
16:59
Interesting folks.
jackfrost11770
17:00
Cornell put me on reserve after interview they are at least slightly unbased
@jackfrost11770: thats why they sit at 2
cornell is based but universal rule is adcoms are ghouls
texaslawhopefully
17:01
this is depressing lol: https://thedispatch.com/newsletter/boilingfrogs/shock-and-awe/
Dkk
17:01
@GodsPlanUltimately smart of them
Dkk
17:02
How is it unpopular when he got the pop vote and the electoral college. Unreadable after the title.
Who’s hearing from uclaaa rnnnn
texaslawhopefully
17:03
Glad you're back dk lmao. If you read the actual article, it's that his day one EO's are wildly unpopular (for instance the majority of americans support birthright citizenship). He can have won the popular vote and still do unpopular stuff
texaslawhopefully
17:03
"Two recent polls found opposition to pardoning the J6ers at 57 and 59 percent, respectively, and that was before Americans understood that even the cop-beaters in the crowd that day would be let off scot-free."
I wonder if this chat has mods
17:04
as most dictators who have come into power do, he appealed to the masses just to turn face once in power
Barely nutty
Dkk
17:04
@texas maybe so. Maybe so.
17:04
we have been duped.
17:05
Oh well there is always the next election.* *- unless there are no more elections.
texaslawhopefully
17:05
I lean conservative and for a long time was one of those people who thought that he was bad but wasn't a facist and that sort of rhetoric was over-reactive. And for those reasons I voted for Harris, but I think I was underestimating him by far.
gov hiring freeze is insane
Remember when Elon musk literally did the nazi salute twice , yeah
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