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.
