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Notice of Default
January 19, 2023
A notice of default is a public notification issued by a court that declares that a mortgage borrower defaults on a loan. When a borrower falls behind on their mortgage payments, the lender may submit a notice of default. Notices of default often include: - The borrower's and lender's names and addresses. - The legal address of the property. - The reason for the default. - Other applicable information. A notice of default is sometimes seen as the initial step toward foreclosure.
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