- AccelerationAceleración
- When the lender declares the whole loan balance due at once because of a default.
- Acceptance periodPlazo para aceptar
- The time the servicer must give you to accept or reject an offer — at least 14 or 7 days depending on timing.
- Appeal (loss mitigation)Apelación (ayuda hipotecaria)
- A request that different servicer staff review a denied loan modification; available in some cases within 14 days of the decision.
- Appraisal district (CAD)Distrito de tasación (CAD)
- The county office that lists each property’s owner of record, value and exemptions for property taxes.
- ArrearsAtrasos
- The past-due amount: missed payments plus allowed late charges and fees.
- Assignment of deed of trustCesión de la escritura de fideicomiso
- A recorded document that transfers the lender’s rights under the deed of trust to someone else.
- Automatic staySuspensión automática
- The court order that takes effect when a bankruptcy is filed and pauses most collection, including foreclosure.
- BeneficiaryBeneficiario
- In a deed of trust, the lender (or whoever now holds its rights) that the property secures.
- Cash for keysDinero por llaves
- Money a new owner pays an occupant to move out by a date instead of going through eviction.
- Chapter 13Capítulo 13
- A bankruptcy repayment plan (3–5 years) that can let a homeowner catch up mortgage arrears.
- Complete applicationSolicitud completa
- An application where the servicer has everything it requires to evaluate you. The servicer’s acknowledgment letter lists what is missing.
- County clerkSecretario del condado
- The county office that records deeds, deeds of trust and assignments and receives notices of sale.
- Credit reportReporte de crédito
- Your payment history as reported by lenders to the credit bureaus; free copies at annualcreditreport.com.
- Cure (the default)Subsanar (el incumplimiento)
- Paying what is needed to end a default within the time a notice of default gives (at least 20 days in Texas).
- Debt-to-income ratio (DTI)Relación deuda-ingreso (DTI)
- Monthly debt payments divided by gross monthly income; servicers use ratios like this to judge affordability.
- DeedEscritura
- The document that transfers ownership of real property.
- Deed in lieu of foreclosureEscritura en lugar de ejecución
- Voluntarily signing the home over to the lender to release the loan instead of a foreclosure sale.
- Deed of trustEscritura de fideicomiso
- The recorded document that makes the home security for the loan and gives a trustee the power to sell it after a default.
- DefaultIncumplimiento
- Failing to keep a promise in the loan papers, most often missing payments.
- DeficiencyDeficiencia
- The amount still owed if a sale brings in less than the debt. In Texas a suit for it must be brought within two years of the sale.
- DelinquencyMorosidad
- Being behind on payments; counted from the first missed due date.
- Early interventionIntervención temprana
- The servicer’s required outreach by day 36 (live contact) and day 45 (written notice) of a delinquency.
- EquityValor líquido (equity)
- The home’s value minus everything owed against it.
- EscrowDepósito en garantía (escrow)
- An account the servicer uses to pay property taxes and insurance from part of your payment.
- Eviction (forcible detainer)Desalojo (retención forzosa)
- The justice-court case a new owner files to get possession after a foreclosure sale.
- Excess proceeds (surplus)Excedente (sobrante)
- Money left from a foreclosure sale after the debt and costs are paid; it may belong to junior lienholders and then the former owner.
- FHA loanPréstamo FHA
- A mortgage insured by the Federal Housing Administration (HUD), which sets its own loss-mitigation options.
- First notice or filingPrimer aviso o trámite
- The first document required by law to start a foreclosure; Reg X bars it until a loan is more than 120 days delinquent.
- Flex ModificationModificación Flex
- The Fannie Mae / Freddie Mac standard loan modification.
- ForbearanceIndulgencia
- A temporary pause or reduction of payments; the skipped amount is still owed.
- ForeclosureEjecución hipotecaria
- The process a lender uses to sell a home to pay a defaulted loan.
- Foreclosure consultantConsultor de ejecución
- A person paid to help stop or delay a foreclosure; Texas law limits what they may do and charge (Bus. & Com. Code ch. 21).
- HardshipDificultad económica
- The event that made the payment unaffordable, such as job loss, illness or divorce.
- HeirHeredero
- A person who inherits property when the owner dies.
- HOA (property owners’ association)HOA (asociación de propietarios)
- An association that charges assessments and, in Texas, may foreclose its lien only with court involvement.
- Home-equity loan (Texas)Préstamo home equity (Texas)
- A loan against the homestead under Tex. Const. art. XVI §50(a)(6); it can be foreclosed only by court order.
- HomesteadResidencia protegida (homestead)
- The home you live in, which Texas law protects from most creditors.
- HUD-approved housing counselorConsejero de vivienda aprobado por HUD
- A free or low-cost nonprofit counselor who can help you apply and talk with the servicer.
- Imminent defaultIncumplimiento inminente
- When you are still current but are about to fall behind; some programs can review you before you miss payments.
- Investor (owner of the loan)Inversionista (dueño del préstamo)
- The entity that owns the loan (for example Fannie Mae or a trust). Its rules decide which options exist.
- Junior lienGravamen posterior
- A lien that ranks behind the first mortgage, such as a second loan or some HOA liens.
- LienGravamen
- A legal claim against property that secures a debt.
- Loan modificationModificación del préstamo
- A permanent change to the loan terms to make the payment affordable.
- Loss mitigationMitigación de pérdidas
- The servicer’s options to avoid foreclosure, such as repayment plans, modifications, short sales and deeds in lieu.
- MERSMERS
- Mortgage Electronic Registration Systems, a private registry that can appear on a deed of trust as a nominee; its ServicerID site shows who services a loan.
- MIN (MERS number)MIN (número MERS)
- An 18-digit number on many deeds of trust used to look the loan up in MERS.
- Mortgage servicerAdministrador hipotecario
- The company that collects payments and handles loss mitigation; it may not own the loan.
- Net sheetHoja neta
- An estimate of what a sale would pay out after the loan payoff, commissions and closing costs.
- Notice of defaultAviso de incumplimiento
- The certified-mail letter giving at least 20 days to cure before a sale can be noticed in Texas.
- Notice of error (RESPA)Aviso de error (RESPA)
- A written notice telling a servicer it made a servicing error; it must respond within set times.
- Notice of saleAviso de venta
- The notice posted at the courthouse, filed with the county clerk and mailed at least 21 days before a Texas foreclosure sale.
- Notice to vacateAviso para desocupar
- The written notice a new owner must give before filing an eviction — 3 days for a former owner, 30 days for many tenants.
- PACERPACER
- The federal courts’ online records system, including bankruptcy cases.
- Partial claimReclamo parcial
- A no-interest second lien (to HUD or VA) that covers past-due amounts, repaid when the home is sold or refinanced.
- Payment deferralAplazamiento de pagos
- A Fannie Mae / Freddie Mac option that moves missed payments to a non-interest balance due at the end of the loan.
- Payoff quoteCotización de liquidación
- The amount needed to pay the loan in full by a given date.
- PostponementAplazamiento de la venta
- Moving a scheduled sale to a later date; a new notice is usually required for a new month.
- Promissory notePagaré
- The borrower’s written promise to repay the loan; the deed of trust secures it.
- Protecting Tenants at Foreclosure ActLey de Protección de Inquilinos en Ejecuciones
- A federal law giving many bona fide tenants at least 90 days’ notice after a foreclosure.
- Qualified written request / request for informationSolicitud escrita calificada / solicitud de información
- A written request to the servicer for information about the loan, which it must answer within set times.
- Regulation XRegulación X
- The federal mortgage-servicing rules under RESPA (12 C.F.R. part 1024), including the loss-mitigation timelines.
- ReinstatementRestablecimiento
- Paying the full past-due amount so the loan returns to normal.
- Relocation assistanceAyuda para mudanza
- Money some programs pay to help you move after a short sale or deed in lieu.
- Repayment planPlan de pagos
- Paying the normal payment plus an extra amount until caught up.
- RESPARESPA
- The Real Estate Settlement Procedures Act, the federal law behind Regulation X.
- Reverse mortgageHipoteca inversa
- A loan for homeowners 62+ that is repaid when the borrower dies, moves or fails to pay taxes and insurance.
- Right of redemption (HOA)Derecho de redención (HOA)
- In Texas, after an HOA foreclosure, the owner may buy the home back within 180 days after the association mails notice of the sale.
- SCRASCRA
- The Servicemembers Civil Relief Act; a sale during or within one year after military service needs a court order in many cases.
- Short saleVenta corta
- A sale where the lender accepts less than the amount owed.
- Substitute trusteeFiduciario sustituto
- The person appointed to conduct the foreclosure sale in place of the original trustee.
- Successor in interestSucesor en interés
- A person who received the home through death, divorce or a family transfer; once confirmed, treated as a borrower for servicing rules.
- Trial period planPlan de prueba
- Usually three payments at the new amount before a modification becomes permanent.
- Trustee’s saleVenta por el fiduciario
- The public auction on the first Tuesday of the month between 10 a.m. and 4 p.m. at the place the county designates.
- Writ of possessionOrden de posesión
- The court order, issued no earlier than the 6th day after an eviction judgment, that lets an officer remove occupants after a 24-hour posted warning.