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LSDefine

Simple English definitions for legal terms

loan value

Read a random definition: hybrid class action

A quick definition of loan value:

Loan value: The maximum amount of money that can be safely borrowed on a property or life insurance policy without putting the lender at risk of losing their investment. It is also the amount of money that an insured person can borrow against the cash value of their life insurance policy.

A more thorough explanation:

Definition: Loan value refers to the maximum amount of money that can be safely lent on property or life insurance without putting the lender at risk of losing their investment due to the borrower's inability to repay the loan. It can also refer to the amount of money an insured person can borrow against the cash value of their life insurance policy.

Example 1: A bank is considering lending money to a borrower who wants to purchase a house. The bank will assess the value of the property and determine the loan value, which is the maximum amount they can lend without risking a loss if the borrower defaults on the loan.

Example 2: An individual has a life insurance policy with a cash value of $50,000. They can borrow up to the loan value of the policy, which may be less than the cash value, without cancelling the policy. The loan value is determined by the insurance company and is based on factors such as the policy's cash value, the insured person's age, and the policy's terms and conditions.

Both examples illustrate how loan value is used to determine the maximum amount of money that can be safely lent or borrowed without putting the lender or borrower at risk. It is an important factor in determining the terms and conditions of a loan or life insurance policy.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] 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
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