Notice of Default (NOD)
WIKIPEDIA | 2014-05-26 17:06

 
In non-judicial foreclosure, this is the official notice (can be a letter) that the lender sends to the borrower letting him know that the lender plans to foreclose because he hasn't made his payments. The lender may tell the borrower how much he can pay to stop foreclosure and by when. Some states require that the Notice of Default be filed with the county clerk.
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