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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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