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D

Debt: This is when a person is owned a sum of money from another party.

Debt-to-Income Ratio: This is the value of money from a persons monthly earnings which are used to pay of the monthly cost of any housing costs or any other form of debts which are paid as instalments.

Deed:This is a document which states the legal owner of a house or the title to it.

Deed-in-Lieu of Foreclosure: This is when a titled is transferred to a lender, this is done to settle any debt of a mortgage which will also avoid any closure taking place.

Deed of Trust: This is a document of the legal type which is used when the title is exchanged to another party, which is a third party, this is so that the title can be used as a form of security for the person who is lending the mortgage. This property is transferred back to the borrower nice the full payment of the loan has been acknowledged.

Default: This is when the client fails to complete a certain agreed statement of the mortgage, which could be a financial element which has been stated in the mortgage or to carry out a service which does not include a form of money at all such as general maintenance.

Delinquency:This is when the borrower fails to pay a payment by the date that it is required by.

Depreciation: This is when the value of a property increases due to a change in its condition or an change in the actual market.

Discount Point: This is a fee that is paid when it comes to the closing of the mortgage, it's intention is to lower the rate of interest which is on the mortgage.

Down Payment: This is a fraction of the cost of the property, which is at most 20 percent of the price, which can be borrowed so that it can be used to pay towards the mortgage.

Due-on-Sale Clause: This is a part of the mortgage that gives you the lender the ability to insist that the balance of the mortgage is paid off, this is only if the house which secures the mortgage has been sold.