David Lythgoe and Regina Lythgoe, Brokers
Merit Properties - Mt. Hood

503-622-3141
Property SearchContactHome Page
68280 E Hwy 26, Welches, OR 97067
 

Featured Homes
Property Search
Lots & Land
Mortgage Calculators
Links Library
Real Estate Glossary
Contact
Home

Logo

 
 
Real Estate Glossary

2 A B C D E F G H I J L M O P Q R S T U V Z       Search

D
  • Days on the Market - The period of time a property is listed for sale until it is sold or taken off the market.

  • Debt-to-income Ratio - A comparison of gross income to housing and non-housing expenses; With the FHA, the monthly mortgage payment should be no more than 29% of monthly gross income (before taxes) and the mortgage payment combined with non-housing debts should not exceed 41% of income.

  • Deed - A format written instrument by which title to real property is transferred from the one owner to another.

  • Deed-in-lieu - To avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt; this process doesn't allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure.

  • Default - The inability to pay monthly mortgage payments in a timely manner or to otherwise meet the mortgage terms.

  • Delinquency - Failure of a borrower to make timely mortgage payments under a loan agreement.

  • Disclosure - A written statement to a potential buyer listing information relevant to a piece of property, such as the presence of radon or lead paint.

  • Discount Points - Normally paid at closing and generally calculated to be equivalent to 1% of the total loan amount, discount points are paid to reduce the interest rate on a loan.

  • Down Payment - The portion of a home's purchase price that is paid in cash and is not part of the mortgage loan.

  • Dry Rot - A fungal decay that causes wood to become brittle and crumble.

  • Due-on-Sale - A clause in a mortgage providing that if the mortgagor sells, transfers, or in any way encumbers the property, the lender has the right to demand the balance due on the mortgage.


2 A B C D E F G H I J L M O P Q R S T U V Z       Search

 
 
Merit Properties - Mt. Hood, 68280 E Hwy 26, Welches, OR 97067
Phone: 503-622-3141  Fax: 503-622-3117  Email: Send an Email 

Equal Housing Opportunity Logo Equal Housing Opportunity. David Lythgoe and Regina Lythgoe are licensed in the state of OR. All information provided is deemed reliable but is not guaranteed and should be independently verified. Terms of Use and Privacy Policy

Copyright © 1998-2017 Home Search One, Inc. All rights reserved.