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Deed: The legal document conveying title to a property.
Deed of trust:The document used in some states instead of a mortgage;
title is conveyed to a trustee rather than to the borrower.
Default:Failure to make mortgage payments on a timely basis or to comply
with other conditions of a mortgage.
Delinquency:A loan in which a payment is overdue but not yet in default.
Deposit:Cash paid to the seller when a formal sales contract is signed.
Depreciation:A decline in the value of a property; the opposite of
"appreciation."
Discount: The difference between face value of an
installment note and mortgage or deed of trust, and the present cash value.
Disbursements: Payments made
during the course of an escrow or at closing.
Down payment:The part of the purchase price which the buyer pays in cash
and does not finance with a mortgage.
Due-on-sale clause:A provision in a mortgage allowing the lender to
demand repayment in full if the borrower sells the property securing the mortgage.
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