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Foreclosure Glossary
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
debtMoney owing from one person to another.
deedA written document signed, delivered, and usually recorded, which conveys title to property from one owner to another. (See conveyance.)
deed in lieuA deed given by an owner/borrower to a lender to prevent the lender from bringing foreclosure proceedings.
deed of trustA type of instrument in which the borrower places the title to real property with a trustee (third party) to secure the repayment of the loan. If the borrower defaults, the trustee has authority to sell the property through non-judicial foreclosure.
defaultA breach or nonperformance of the terms of a note or the covenants of a mortgage.
defendantThe party to a lawsuit or civil proceeding that did not initiate the legal action; the party against whom the action is being taken. (See plaintiff.)
deficiencyThe difference between the balance outstanding on a loan and proceeds from the sale of the loan collateral.
deficiency judgmentA court order to pay the balance owed on a loan if the proceeds from the sale of the security are insufficient to pay off the loan.