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debt An amount owed to another. deed The legal document conveying title to a property. deed in lieu A deed given by a mortgagor to a mortgagee to satisfy a debt and avoid foreclosure. |
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.
