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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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