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Hazard insurance:
Insurance to protect the homeowner and the lender against physical damage to a property from fire, wind, vandalism and other hazards.
Homeowner's insurance:
An insurance policy that combines liability coverage and hazard insurance.
Homeowner's warranty:
A type of insurance that covers repairs to specified parts of a house for a specific period of time.
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.
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