I am assuming you mean "default". This is when a person who has a mortgage commitment with a bank has not paid their bill. Sometimes it's because you no longer can afford the payment, because the home is now worth less than you paid for it, or for other personal reasons. If you are more than 30 days late, this can affect your credit rating in a negative way.

If you are in this situation, it's best for you to contact the Loss Mitigation Dept. at the bank and let them know what is going on and wh you were unable to pay. They may make arrangements to assist you, or tell you what must be done so you do not face a foreclosure. I hope this helps.

Are you referring to default? and pertaining to defaulting on a payment? like a mortgage, car, or credit card payment?

A default on the mortgage is where a payment is missed, and is more than thirty days late. It will be noted on the clients credit report and affects their credit score negatively. When a number of mortgage payments is missed, usually about three or four, the client is classified as being in default by their mortgage by the mortgage company or whomever is holding the note on the home.

It is strongly suggested that if someone is running behind on their payments that they contact their mortgage provider and tell them the news. Many loan and mortgage companies will be happy enough to try and work out some sort of agreement in order to help you out of your difficult position.

I hope that answers your question.

Helene