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...
by Myers Jackson | Dec 31, 2024 | Auction News
Deed-in-Lieu of Foreclosure The transfer of title from a borrower to the lender to satisfy the mortgage debt and avoid foreclosure. Also called a “voluntary conveyance.” Real estate words and definition CLICK THIS BUTTON For other words and definitions related...
by Myers Jackson | Dec 31, 2024 | Auction News
Deed The legal document transferring ownership or title to a property. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for sale CLICK...
by Myers Jackson | Dec 31, 2024 | Auction News
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. Real...
by Myers Jackson | Dec 31, 2024 | Auction News
Debt Money owed from one person or institution to another person or institution. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for...
