What is a Notice of Default?
Definition
A Notice of Default is a notice to a borrower declaring the borrower has breached material terms of the promissory note.
Explanation
If you are delinquent on your mortgage payments your lender, in most states, files a Notice of Default. This notice is recorded at the County Recorder’s office.
Within a specified number of days of being recorded, the Notice of Default (NOD) is sent by registered or certified mail, and separately by regular mail, to you and to any other person who requested notification.
If there are liens on your property for postponed real property taxes, the state will be notified.
Right to cure default in wv
My lender has sent a notice of default 2 times this calander year and I cured defaults, on the third time i did not recieve a notice to cure but instead a letter that I have defaulted and they are accelerating the foreclosure and sale of my property, should I have one more chance to cure ?
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