What is a notice of default in a foreclosure?

A Notice of Default in a foreclosure is a formal document that is put in place to alert the borrower that they are behind on their mortgage payments and must take action to remedy the situation. In Texas, this document is typically sent to the borrower when they are 90 days delinquent on their mortgage payment. The Notice of Default will explain the current financial obligations of the borrower, the amount of money that is past due, and the potential consequences of not fulfilling these obligations. In most cases, these consequences include foreclosure proceedings, which can lead to the borrower losing their home and/or their financial investment in the property. The Notice of Default may also provide the borrower with resources to help them stay in their home if they are still able to make payments. Ultimately, the Notice of Default is intended to provide the borrower with the information necessary to make a decision on how to proceed.

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