The Mortgage Dictionary contains a comprehensive list of mortgage terms used in the mortgage industry. This specialized dictionaries is made available by the 18,000 REALTOR® members of the Houston Association of Realtors ®. Please use Term Index section containing an alphabetical list of words with information about them.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Debt
An amount owed to another.

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.

Deed-In-Lieu
A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure.

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.

Depreciation
A decline in the value of property; the opposite of appreciation.

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.

All information is subject to change and should be independently verified.
Copyright© 2009, HOUSTON REALTORS® INFORMATION SERVICE, INC. All Rights Reserved.
Disclaimer: HAR makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to HAR.com
nor with regard to their use of any information they may collect.

Equal Housing Opportunity

REALTOR®-- A registered collective membership mark that identifies a real estate professional who is a member of the ® and subscribes to its strict Code of Ethics.