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Simple English definitions for legal terms

prepaid interest

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A quick definition of prepaid interest:

Prepaid interest is when you pay some of the interest on a loan before you actually have to. It's like paying for something in advance. For example, if you take out a loan to buy a house, you might have to pay some interest upfront before you start making your regular monthly payments. This can help lower your monthly payments in the long run.

A more thorough explanation:

Prepaid interest refers to the interest paid in advance by a borrower to a lender. It is usually paid at the time of closing a loan or mortgage. This interest is paid to cover the period between the closing date and the end of the month in which the loan was closed.

For example, if a borrower closes a loan on the 15th of the month, they will have to pay prepaid interest for the remaining 15 days of the month. This interest is calculated based on the loan amount and the interest rate.

Prepaid interest is also known as interim interest or per diem interest.

Example: John takes out a mortgage of $200,000 with an interest rate of 4%. He closes the loan on the 20th of the month. The prepaid interest for the remaining 10 days of the month would be calculated as follows:

Prepaid interest = ($200,000 x 4% x 10) / 365 = $219.18

This means that John would have to pay $219.18 as prepaid interest at the time of closing the loan.

prepaid income | prepayment clause

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Dkk
19:39
Maybe her friend was better though and fucked him cus she saw good character in him.
Dkk
19:39
That is where the win condition lies.
i’m not sure i’d want to be hooking up with a girl in that friend group tho
babycat
19:40
I wish someone would see some good character in me if you get what I’m saying
lol babycat
19:42
For situations like this, it is who of an observer to reference the wisdom found: https://bloximages.chicago2.vip.townnews.com/dailyuw.com/content/tncms/assets/v3/editorial/6/c3/6c36eaf2-acbb-11ed-87db-5b046a8de321/63ec1313c6666.image.png sometimes, it is required to us relative judgment to make a 'pivot' to a better candidate. I lay odds this is what shaq did.
Dkk
19:43
@babycat: we see it here! Do not worry! And @wasp that may be true. People are usually a combo of their 5 closest friends. However, I have seen the opposite where a woman dates a guy great for her and breaks away from her group of hags. We will have to wait and see.
Dkk
19:44
@llama: that is some old knowledge. Arcane wisdom lol. https://youtu.be/pInk1rV2VEg
babycat
19:45
According to llama’s list I’m not wifey material
guys i’m so burnt out and finals are so close
19:45
@Dkk: as the sayin goes: nuthin' new under the sun' therefore, while yes it is old, it is nontheless applicable to todays toils.
Dkk
19:47
@Wasp burn yourself put hard for 48 hours and then reset. Do everything possible. Work out, drink, go to a $200+/person restaurant.
19:47
@KnowledgeableRitzyWasp: anytime i need to grind it out, I seek this: https://youtu.be/03cYOPQ9M5Q?t=166 for motivation. maybe it will help you as well?
Dkk
19:47
@babycat: What did I say about redheads too. Gotta be careful.
ooh that’s a good idea try to grind harder and then take targeted relaxation, that’s a good idea
19:49
@babycat: please note redheads are EXTREMELY high in both hot and crazy, plus add the rarity (most rare phenotype on earth). TLDR: do not underestimate redheads
Dkk
19:49
It is down going in a Nietzschien sense.
@llama: wtf did i just watch
19:51
@KnowledgeableRitzyWasp: egomaniac screaming (about to have a stroke) about not giving up. hope it helps!
babycat
19:51
I love when a Latina is redhead. Like damn bitch u really have it all
19:52
let me check the chart, let me check the chart- that is not readable! off the chart, HOUSTON WE HAVE A PROBLEM!
babycat
19:53
hahahaha
19:54
ok I gotta go, my time derailing the LSD general is over. sowwy! byeee
bye bye bestie
Dkk
19:54
Nah not in my case lol. It's cus you posted in general! That way you could tag me!
19:54
*good ridden!*
Dkk
19:54
Adios!
[] notacat
20:50
Do you guys know if the LSAdmit program is working on your end right now? It's not working on mine
20:53
Anyone here done the Cornell Kira? Was wondering if anyone had any tips 🙏
21:13
@KnowledgeableRitzyWasp: ^^ seeking corn-hell advice
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