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LSDefine

Simple English definitions for legal terms

FRM

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A quick definition of FRM:

A mortgage is a loan that you take out to buy a property. It's like a promise that you make to the bank or lender that you will pay back the money you borrowed, plus interest, over a certain period of time. If you don't pay back the money, the lender can take your property away. There are different types of mortgages, like fixed-rate mortgages where the interest rate stays the same, and adjustable-rate mortgages where the interest rate can change. It's important to understand the terms of your mortgage before you sign up for one.

A more thorough explanation:

Definition: FRM stands for fixed-rate mortgage. It is a type of mortgage where the interest rate remains the same throughout the life of the mortgage, regardless of market conditions.

Example: If a borrower takes out a 30-year FRM with an interest rate of 4%, the interest rate will remain at 4% for the entire 30-year term, even if interest rates in the market increase or decrease.

Explanation: This means that the borrower's monthly mortgage payments will remain the same for the entire term of the mortgage, providing stability and predictability in their budgeting. The example illustrates how the interest rate remains fixed, regardless of market conditions.

frivolous suit | frolic

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[] 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
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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