FURTHER ADVANCE

further advance

further advance. 1. A second or later loan to a mortgagor by a mortgagee, either on the same security as the original loan or on an additional security. [Cases: Mortgages 16, 116. C.J.S. Mortgages §§ 154–156.] 2. Equity practice. The agreed conversion of arrears of interest on a mortgage security into principal.

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