Damages

The indemnity recoverable by a person who has sustained an injury either in his person, property or relative rights, through the act or default of another.

Deed

A written instrument which, when properly executed and delivered, conveys title to real property.

Deed in Lieu of Foreclosure

A deed to real property accepted by a lender from a defaulting borrower to avoid the necessity of foreclosure proceedings by the lender.

Default

Failure to fulfill a duty or promise or to discharge an obligation, or to perform any act in an instrument in writing, that has been agreed upon.

Deferred Maintenance

Existing but unfulfilled requirements for repairs and rehabilitation.

Deficiency Judgment

A judgment given when the security pledged for a loan does not satisfy the debt upon its default.

Depreciation

Loss of value in real property brought about by age, physical deterioration or functional or economic obsolescence.

Deterioration

Reflecting the loss in value brought about by wear and tear, disintegration, use in service, and the actions of the elements.

Discount Fee

Sometimes referred to as "points," a fee charged by the lender in order to obtain a higher earning than the interest stated in the mortgage note.