- An amount owed to another.
- The legal document conveying title to a property.
- A deed given by a mortgagor to the mortgagee to satisfy a debt and
- deed of trust
- The document used in some states instead of a mortgage; title is
conveyed to a trustee.
- Failure to make mortgage payments on a timely basis or to comply
with other requirements of a mortgage.
- Failure to make mortgage payments when mortgage payments are due.
- 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.
- 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