what is a notice of default 
the term notice of default refers to a public notice filed with a court that states that the borrower of a mortgage is in default on a loan the lender may file a notice of default when a mortgagor falls behind on their mortgage payments information on notices of default normally includes the borrower and lender s name and address the legal address of the property the nature of the default as well as other pertinent details a notice of default is often considered the first step toward foreclosure 1