Resources > Glossary > Delinquency

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Delinquency

Phonetics: de·lin·quen·cy    \di-'ling-kwən-sē\

Function: noun

Delinquency in a mortgage can lead to foreclosure or reposession.

Definition 1:
Failure to make mortgage payments in a timely manner.

Definition 2:
One who fails to do what is required by law or by duty in a minor way.