Definition: A friendly foreclosure (non-judicial process) in which the mortgagor gives title to the mortgagee. Pronunciation: \ˈdēd\ \ˈlü\ \ˈfȯr -ˈklō-zhər\ Used in a Sentence: When the property was in trouble the owner gave a deed of foreclosure to t..
Definition: Stipulation placed in deeds to control future uses of the property. Pronunciation: \ˈdēd\ \ri-ˈstrik-shəns\ Used in a Sentence: The deed restrictions prohibit home-owners from placing any type of storage shed on their..
Definition: Failure to comply with the terms of an agreement or to meet an obligation when due. Pronunciation: \di-ˈfȯlt, dē-; ˈdē-ˌfȯlt\ Used in a Sentence: The borrower has made no payments and is in default o..
Definition: A provision in a mortgage that specifies the terms and conditions to be met in order to avoid default and thereby defeat the mortgage. Pronunciation: \di-ˈfē-zən(t)s\ \ˈklȯz\ Used in a Sentence: Once the debt is repaid, the defeasance clause defeats the mortgage lien and the property is no longer pledged as c..
Definition: A person who is being sued or accused of a crime in a court of law. Pronunciation: \di-ˈfen-dənt\ Used in a Sentence: The jury believed the defendant was..
Definition: Judgement brought when a mortgage is foreclosed and the sale proceeds fail to cover the costs of the sale, taxes, and the unpaid mortgage balance. Pronunciation: \di-ˈfi-shən-sē\ \di-ˈkrē\ Used in a Sentence: A deficiency decree was declared when the sale of the property did not cover all of the outstanding..
Definition: The quantity of a commodity or service wanted at a specified price and time. Pronunciation: \di-ˈmand\ Used in a Sentence: The high demand for mid-priced homes created a shortage of property ..
Definition: Checking accounts; payable on demand by holder. Pronunciation: \di-ˈmand\ Used in a Sentence: I had my funds in a demand deposit account so I could access th..
Definition: A refusal or rejection. Pronunciation: \di-ˈnī(-ə)l\ Used in a Sentence: She issued a flat denial of the charges made ag..
Definition: The average number of units or dwellings per acre. Pronunciation: \ˈden(t)-sə-tē\ Used in a Sentence: The area had a housing density of 10 houses..