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

D

debt
An amount owed to another. See installment loan and revolving liability.

deed
The legal document conveying title to a property.

deed-in-lieu
A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a "voluntary conveyance."

deed of trust
The document used in some states instead of a mortgage; title is conveyed to a trustee.

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. See earnest money deposit.

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

discount points
See point.

dower
The rights of a widow in the property of her husband at his death.

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.

due-on-transfer provision
This terminology is usually used for second mortgages. See due-on-sale provision.

 

 

HOME |  ABOUT OUR COMPANY | LOAN PROGRAMS | LUXURY HOME DIVISION | CALCULATORS AND TOOLS | ANSWERS TO COMMON QUESTIONS | STATE LICENSING INFORMATION | FINANCIAL PRIVACY POLICY | CONTACT US

Hourglass Capital Group, LLC
Four Titus Road
P.O. Box 566
Washington Depot, CT 06794-0566
info@hourglassmortgage.com
Phone: 860.868.2810
Toll Free: 888.HR.GLASS or 888.474.5277
Fax: 860.868.2610

© 2004-2006 Hourglass Capital Group, LLC. All rights reserved.