Question Details

Michelle, Home Buyer in 94566

Notice of default/foreclosure

Asked by Michelle, 94566 Sun May 3, 2009

I keep on comming across Notice of Default for houses. Does this mean that the house is in Foreclosure?

Help the community by answering this question:


The notice of default or the first legal action as it is called in some states is the first step in the foreclosure process. The timing of recording the Notice of default is different for different states. However, the time period prior to the filing of the notice of default is usually similar. The banks usually do not send the cases to the foreclosure attorney until the 120-135 th day of deliquency. So when ever the notice is filed it would suggest that the mortgagor is 4-5 months behind in their mortgage. So the time to foreclose will be determined on the state standards.

So if the Notice of Default is filed the foreclosure process has started.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield, Wisconsin
0 votes Thank Flag Link Tue May 5, 2009
This may mean that the homeowner has fallen behind on their mortgage payment. So they are in default because they haven't stuck with their agreement to make their payments in a timely fashion. Their mortgage company has publicly announced this by recording them in default or has a lis penden against them.

0 votes Thank Flag Link Sun May 3, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer