Hazard insurance - A form of insurance in which the insurance company protects the insured from specified losses, such as fire, windstorm and the like.

Hiatus - A gap or space left between two parcels of land and not included in the legal description of either parcel. Similar terms are Gaps and Gores.

Homestead deed - A declaration filed in the land records that an individual is asserting his homestead exemption. That exemption allows one to protect some assets (amount varies by state) against the claims of creditors.

Housing ratio - The ratio, expressed as a percentage, which results when a borrower's housing expenses are divided by his/her gross monthly income. See debt-to-income ratio.