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Glossary of Terms > D > Default

Default

Failure of the borrower to honor the terms of the mortgage agreement; typically considered once borrower is 90 days late on a payment.

D Terms

Days On Market (DOM)

Debt-to-Income (DTI) Ratio

Deed

Default

Delinquency

Demand Clause

Depreciation

Discount Points

Down Payment

Dual Index Mortgage

Due-on-Sale Clause