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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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