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"Comprehensive Glossary of Real Estate Terminology – Letter D"


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Peruse the following real estate terminology and learn to "talk the talk"! Just click on the appropriate letter and start feeding your head now!


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N O P Q R S T U V W X Y Z


D

Debt: An amount owed to another. See installment loan and revolving liability.

Debt-to-Income Ratio: The percentage of gross monthly income that goes toward paying for your monthly housing expense, alimony, child support, car payments and other installment debts, and payments on revolving or open-ended accounts, such as credit cards.

Deed: The legal document conveying title to a property.

Deed-in-lieu of foreclosure: A deed given by a mortgagor to the mortgagee 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 conveyed to a trustee.

Default: Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.

Delinquency: Failure to make mortgage payments when mortgage payments are 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; the opposite of appreciation.

Discount points: See point.

Dower: The rights of a widow in the property of her husband at his death.

Down payment: The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage.

Due-on-sale provision: A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage.

Due-on-transfer provision: This terminology is usually used for second mortgages. See due-on-sale provision.




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