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.