Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

flip mortgage

Read a random definition: enable

A quick definition of flip mortgage:

A flip mortgage is a type of loan where someone borrows money to buy a house and then gradually pays it back over time. With a flip mortgage, the borrower can put some of the down payment into a savings account and use the interest to help pay off the loan. This type of mortgage is called a graduated-payment mortgage. The borrower makes lower payments at first and then gradually pays more as time goes on. Eventually, the loan will be completely paid off.

A more thorough explanation:

A flip mortgage is a type of graduated-payment mortgage that allows the borrower to place some or all of the down payment in a savings account. The principal and interest from this account can be used to supplement lower mortgage payments in the early years of the loan. This type of mortgage is useful for borrowers who expect their income to increase over time.

For example, let's say a borrower takes out a flip mortgage for $200,000 with a down payment of $20,000. The borrower places $10,000 of the down payment in a savings account. In the first year, the borrower's mortgage payment is $1,000 per month, but the borrower only pays $800 per month out of pocket. The remaining $200 comes from the savings account. As the borrower's income increases, they can start making larger payments and eventually pay off the mortgage.

flip | float

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
11:28
@glovediedthisishismom: just bite your lip,. gives good brain feel when peelin the dry skin
babycat
11:28
yeah it’s insane how much better hip flexor stretches can make you feel sometimes
11:28
Probably the most important long term mobility thing you can do
1a2b3c4d26z
11:28
Pigeon stretch GOAT
1a2b3c4d26z
11:29
Stretching was probably the biggest factor in becoming elite in my sport tbh
1a2b3c4d26z
11:29
well mobility in general
m10
11:29
Nah you wanna be wound up tight like a clock. All your parts working in synchronization, never missing a second.
BulbasaurNoLikeCardio
11:30
When I get home I think I will pull up a youtube yoga video and lay out the mat by the fireplace now, feeling guilty I haven't been stretching properly
1a2b3c4d26z
11:30
tighter you are, more potential energy you have. Your body is a spring. It's just physics
m10
11:30
Exactly.
JumpySubsequentDolphin
11:30
yoga classes stress me out
WorthlessAttractiveZombie
11:31
W&L put their scholarship info on the portal for those who were admitted 11/12
m10
11:31
Gotta always be ready to release that energy. Like if I am in a fight at the bar, I just gotta bust out a couple punches. No stretching.
JumpySubsequentDolphin
11:31
the instructor will be like "forget all of the things that youre stressing about" which reminds me of all of the things im stressing about
BulbasaurNoLikeCardio
11:32
I am too competitive to do yoga classes with other people. Try to stretch better or further then hurt myself lmao I am beyond competitive in anything physical.
babycat
11:32
if you guys all pay me to be your lsat tutor I can afford to do Pilates classes
JumpySubsequentDolphin
11:32
hot yoga was fun
JumpySubsequentDolphin
11:32
i loved barre and pilates when i did them together
m10
11:33
Here's an article from Testosterone nation for all you men out there on why stretching is bullshit. https://archive.t-nation.com/training/stretching-is-b-s/
snow
11:36
M so close to crashing out
BulbasaurNoLikeCardio
11:36
@babycat: If the person I am mentoring decides to listen to my advice instead of just discussing my advice I will pay you to tutor her. You seem like a smart, good and well put together person that she can probably learn well from.
babycat
11:37
Aw that’s so sweet Bulbasaur <3
11:39
@m10: stretching absolutely helps with tight tendons lol
11:39
now kiss
m10
11:40
@EvolBunny: Indeed! I am just riffing. Practicing for when I get into Chicago and do standup there on the weekends and get mad pussy.
11:40
You only do cardio on the weekends ;)
babycat
11:40
@m10: I have a friend that does this but he doesn’t get mad pussy
m10
11:40
I'll work that in! Sounds like a good way to segway.
m10
11:41
@babycat: yeah, well unlike 99.99% of people who do standup I will.
BulbasaurNoLikeCardio
11:41
To do stand up comedy you have to have fat balls, that is awesome
LSD+ is ad-free, with DMs, discounts, case briefs & more.