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VWXYZ
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.
