Real-Estate-Foreclosures.org | Real Estate Foreclosure Resources | Notice-of-Default Notice of Default

A notice of default also known as an NOD is an officially document that is filed under public record by a lender in the mailing county and state of the defaulted mortgage property. An NOD is usually filed when the borrower is 90 or more days late on their monthly mortgage loan payment. If you feel that you can not meet your monthly mortgage payments it is advised that you contact your lender before an NOD is filed. It's important to remember that your lender does not want you to foreclose they would much rather have the cash payments then go through the lengthy foreclosure process . In fact most lenders are willing to help you find a way to get back on track to meeting your monthly mortgage payments. Furthermore an NOD can be very damaging to your credit so don't sit around wait for that dreaded notice wait research other options.

Even after the NOD is filed you still have other options to try and save your home you have 90 days to try and save your home before another dreaded notice is filed. This dreaded notice is commonly known by the acronym NOS or Notice of Trustee Sale. In California 21 days after the NOS is filed a foreclosure sale/ auction takes place.

*Timing of foreclosure may differ by state check your local state foreclosure guidelines.

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