Deed of Trust : A security instrument, used in place of a mortgage, conveying title in trust to a third party covering a particular piece of property. It is used to secure hdfc personal loan emi change of a promissory note. Default: Failure to fulfill a duty or promise as specified in the Promissory Note andor Deed of Trust.
Deferred Payment Loan: A loan which allows the borrower to defer all the monthly principal and interest payments until the maturity date of the promissory note, at which time the outstanding principal loan balance and all accrued interest is due and payable. Downpayment: The difference between the purchase price of real estate and the loan amount.
The borrower is responsible for providing the funds for the downpayment.
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