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Glossary

Glossary of terms used on this site

There are 84 entries in this glossary.

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D

Term	Definition
Default	Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment has still not been made within 30 days of the due date, the loan is considered to be in default.
Down Payment	The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage.

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