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 borrower to the lender 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 vested in a trustee to secure repayment of the loan. |
| default |
| Failure to make loan payments on a timely basis or to comply with other requirements of a mortgage. |
| delinquency |
| Failure to make mortgage payments when 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 because of physical or economic changes such as wear and tear; the opposite of appreciation. |
| discount points |
| Amounts paid to the lender at origination to lower the rate on the face of the note. See point. |
| down payment |
| The part of the purchase price of a property that the buyer pays in cash and does not finance with a home loan. |
| Draw Period |
| The time period in which the borrower may access and use a line of credit. |
| due-on-sale provision |
| A provision in a mortgage home loan that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the loan. |
| due-on-transfer provision |
| This terminology is usually used for second mortgages. See due-on-sale provision. |
