Insurance to protect the homeowner and the lender against physical damage to a property from fire, wind, vandalism and other hazards.

An insurance policy that combines liability coverage and hazard insurance.

A type of insurance that covers repairs to specified parts of a house for a specific period of time.

The legal document conveying title to a property.

The document used in some states instead of a mortgage; title is conveyed to a trustee rather than to the borrower.

Failure to make mortgage payments on a timely basis or to comply with other conditions of a mortgage.

A loan in which a payment is overdue but not yet in default.

Cash paid to the seller when a formal sales contract is signed.

A decline in the value of a property; the opposite of "appreciation."

The difference between face value of an installment note and mortgage or deed of trust, and the present cash value.