DEED >> A written instrument by which a property owner, the “grantor,” conveys and transfers to a “grantee” an ownership interest in real property.

DEED IN LIEU >> A deed given by a mortgagor to a mortgagee to satisfy a debt and avoid foreclosure.

DEED OF RECONVEYANCE >> A document used to transfer legal title from the trustee back to the borrower after a debt secured by a deed of trust has been paid in full.

DEED OF TRUST >> A security instrument used in some states in place of a mortgage by which legal title is conveyed to one or more trustees to secure the repayment of a debt.

DEFAULT >> Failure to meet legal obligations of a contract such as the failure to make the monthly mortgage payment or the failure to pay property taxes when due or maintain hazard insurance on the property.

DEFERRED MAINTENANCE >> Repairs necessary to restore a property to good condition.

DEFICIENCY JUDGMENT >> The imposition of personal liability on a borrower for the unpaid balance of a mortgage secured loan after foreclosure has failed to satisfy the full amount due to the lender.