| — D — | |
| Debt | An amount owed to another. See installment loan and revolving liability. |
| Deed | The legal document conveying title to a property. |
| Deed-In-Lieu | A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a “voluntary conveyance.” |
| Deed Of Trust | The document used in some states instead of a mortgage; title is conveyed to a trustee. |
| Default | Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage. |
| Delinquency | Failure to make mortgage payments when mortgage payments are due. |
| Deposit | A sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan. See earnest money deposit. |
| Depreciation | A decline in the value of property; the opposite of appreciation. |
| Discount Points | See point. |
| Dower | The rights of a widow in the property of her husband at his death. |
| Down Payment | The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage. |
| Due-On-Sale Provision | A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage. |
| Due-On-Transfer Provision | This terminology is usually used for second mortgages. See due-on-sale provision. |
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