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debt
An amount of money borrowed and owed by one party to another.
deed
A written legal document by which title to land is conveyed (transferred) between two parties.
deed-in-lieu
A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure.
deed of trust
A document used instead of a mortgage. A common way to structure real estate purchases, where the title to a property is held in trust until the loan for the property is paid.
default
Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.
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