A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z |
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Terms: D |
| Debt |
| An amount that is owed to another individual or company. |
| Debt Service |
| The total amount of credit card, auto, mortgage or other debt upon which you must pay. |
| Deed |
| A legal document conveying title to a property. |
| Deed-in-Lieu |
| A deed given by a borrower to the lender 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 vested in a trustee to secure repayment of the loan. |
| Default |
| Failure to make loan payments on a timely basis or to comply with other requirements of a mortgage. |
| Deferred Interest |
| When a mortgage is written with a monthly payment that is less than required to satisfy the note rate, the unpaid interest is deferred by adding it to the loan balance. |
| Delinquency |
| Failure to make mortgage payments when 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. |
| Depreciation |
| A decline in the value of property because of physical or economic changes such as wear and tear. The opposite of appreciation. |
| Discount Points |
| Amounts paid to the lender at origination to lower the rate on the face of the note. |
| Down Payment |
| The part of the purchase price of a property that the buyer pays in cash and does not finance with a home loan. |
| Draw Period |
| The time period in which the borrower may access and use a line of credit. |
| Due-on-Sale Provision |
| A provision in a mortgage home loan that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the loan. |
| Due-on-Transfer Provision |
| This terminology is usually used for second mortgages. |