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Notice of default |
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Notice of defaultA lender's initial action when a mortgage payment is late and attempts to reconcile the issue out of court have failed.Notice of default Similar MatchesDefaultDefaultFailure to make timely payment of interest or principal on a debt security or to otherwise comply with the provisions of a bond indenture. Payment defaultPayment defaultThis results when you are unable or simply unwilling to meet your mortgage repayments. If you default on your payments, the lender is ultimately entitled to sell your home in order to recover the loan. Different lenders will have different policies on how long they give you before they start the legal proceedings to recover the loan. Many will have a separate schedule of charges which you will incur before they start proceedings. Default premiumDefault premiumA differential in promised yield that compensates the investor for the risk inherent in purchasing a corporate bond that entails some risk of default. Cross defaultCross defaultA provision under which default on one debt obligation triggers default on another debt obligation. DefaultDefaultFailure to repay a loan. International loans by governments and private agents lack mechanisms to deal with default, comparable to the legal mechanisms that exist within countries. Further SuggestionsdefaultEvents of default |
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