by Myers Jackson | Dec 31, 2024 | Auction News
Discount Point A fee paid by the borrower at closing to reduce the interest rate. A point equals one percent of the loan amount. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON...
by Myers Jackson | Dec 31, 2024 | Auction News
Depreciation A decline in the value of a house due to changing market conditions or lack of upkeep on a home. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
by Myers Jackson | Dec 31, 2024 | Auction News
Delinquency Failure to make a payment when it is due. The condition of a loan when a scheduled payment has not been received by the due date, but generally used to refer to a loan for which payment is 30 or more days past due. Real estate words and definition...
by Myers Jackson | Dec 31, 2024 | Auction News
Default Failure to fulfill a legal obligation. A default includes failure to pay on a financial obligation, but also may be a failure to perform some action or service that is non-monetary. For example, when leasing a car, the lessee is usually required to properly...
by Myers Jackson | Dec 31, 2024 | Auction News
Deed of Trust A legal document in which the borrower transfers the title to a third party (trustee) to hold as security for the lender. When the loan is paid in full, the trustee transfers title back to the borrower. If the borrower defaults on the loan the trustee...
