Mortgage Default or Delinquency
After a borrower fails to make their house payment for more than 60 days, their lender can begin foreclosure proceedings.A notice of default is a notification given to a borrower stating that he or she has not made their payments by the predetermined deadline, or is otherwise in default on the mortgage contract. This may involve the Lender posting a Notice of Trustee's Sale on the borrower's front door. Thereafter, unless the appropriate steps are taken, the borrower's house can be sold by their lender.
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Click HERE to Proceed to the Mortgage Default section to learn more about your options.
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