The Real Estate Encyclopedia
Notice Of Default
Category - Real Estate Glossary - Real Estate Terminology

A recorded document which officially starts the foreclosure process.  The lender can file an N.O.D. on the 16th day that a borrower is late making the mortgage payment.  However, in my experience, 99.9% of the time it is filed after the borrower is 90 days late.1



References
 
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Real Estate Glossary - Real Estate Terminology
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