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Down Payment A portion of the price of a home, usually between 3-20%, not borrowed and paid up-front in cash. Some loans are offerend with zero downpayment.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...

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 For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

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 For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

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 For other words and definitions...

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 maintain the car.  Real...

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 will sell the property and pay...

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 For other words and definitions related to real estate auctions For all active auctions,...

Deed The legal document transferring ownership or title to a property.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone: +1-844-400-2828 Phone...

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 estate words and definition For...

Debt Money owed from one person or institution to another person or institution.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone:...