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 Loan Terms

Loan Definitions
Loan Terms (A)
Loan Terms (B)
Loan Terms (C)
Loan Terms (D)
Loan Terms (E)
Loan Terms (F)
Loan Terms (G)
Loan Terms (H)
Loan Terms (I)
Loan Terms (J & K)
Loan Terms (L)
Loan Terms (M)
Loan Terms (N)
Loan Terms (O)
Loan Terms (P & Q)
Loan Terms (R)
Loan Terms (S)
Loan Terms (T)
Loan Terms (U & V)
Loan Terms (W)
Loan Terms (X,Y,Z)


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Loan Terms and Definitions (D)

Damages: Money paid by or recovered by individuals for loss or injury. Damages are usually awarded by a court or by arbitration.

Debt: Money or any item of value that is owed to another.

Debtor: One who owes a debt, usually money, but the debt can be almost anything else.

Deed: A written document transferring title to property, usually by grant, quitclaim, gift, warrant, or by other forms of transfer of ownership.

Deed In Lieu Of Foreclosure: A deed given by a mortgagor to a lender in order to stop the lender from going through with foreclosure proceedings. The Deed in Lieu of Foreclosure gives the property to the lender.

Deed Of Trust: A written document used in many states in place of a mortgage. The deed of trust gives an interest in the property being bought to a third party as security, usually to a lender. The deed of trust is usually reconveyed upon payment in full.

Defective Title: Title to a property that has elements surrounding it that prevents it from being transferred as clear title. The title may have been transferred fraudulently or prepared with handwritten or typographical errors.

Delinquent Payments: Payments that are made late. On most credit reports, delinquencies are noted as being late by 30, 60, or 90 days or more.

Discount Points: A percentage of a loan paid to a lender at it's origination to account for the difference between the market rate and the rate of the note. Borrowers pay discount points to reduce the interest rate of a loan.

Documentary Transfer Tax: A state tax on the sale of real estate that is usually based on the sales price or, in some instances, the amount of equity that is transferred.

Down Payment: The amount of money that is either required or voluntarily given to facilitate a purchase. Money is usually from the borrowers own funds, depending on the lender. In some cases, the down payment may be in the form of a gift, borrowed, or taken in the form of a second trust deed.

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