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Financial Glossary

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Debt consolidationPaying off multiple loans with one new loan, often at a lower rate and/or payment.
Debt-to-income ratioPercentage of monthly earnings that go to pay expenses.
Deductible amountAmount a policyholder must pay before an insurance company covers remaining costs.
DeductionsItems subtracted from gross income to reduce the taxable amount.
DeedLegal document conveying title to a property.
Deed in Lieu (DIL) Is essentially the sale of the property to the lender in consideration for forgiveness of the debt.
DefaultFailure to make timely payments or comply with terms of a loan.
DependentSomeone who relies on another for financial support, often one-half or more.
DepositPutting funds into an account at a financial institution.
DepreciationDecrease in property value.
Direct depositTransferring funds directly into an account, rather than issuing a paper check.
DividendCredit union earnings paid to members on their deposit accounts.
Down paymentPortion of the purchase price that is paid upfront by the buyer.
Equal Housing Lender Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S.Government Agency. ©2014 Desert Schools Federal Credit Union