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• When a borrower fails to comply with the terms and conditions of the signed promissory note and trust deed.

  Idaho Office of the Attorney General - Cite This Source - This Definition
  ×

  Cite Definition for Default

  American Psychological Association (APA)

  Default. (n.d.). Mortgage Servicing Glossary. Retrieved June 2, 2023, from website: http://www.expertglossary.com/definition/default.

  Chicago Manual of Style (CMS)

  Default. www.ag.idaho.gov. Mortgage Servicing Glossary. Idaho Office of the Attorney General. http://www.expertglossary.com/definition/default (accessed: June 2, 2023).

  Modern Language Association (MLA)

  "Default." Mortgage Servicing Glossary. Idaho Office of the Attorney General. 2 June. 2023 http://www.expertglossary.com/definition/default.

• Default is failure to comply with the terms of an obligation to such an extent that a judgment has been rendered in favor of a failed institution or, in the case of a secured obligation, when the property on which such obligation is secured is foreclosed.

  Federal Housing Finance Agency, Office of Inspector General - Cite This Source - This Definition
  ×

  Cite Definition for Default

  American Psychological Association (APA)

  Default. (n.d.). Federal Housing Finance Agency Glossary of Terms. Retrieved June 2, 2023, from website: http://www.expertglossary.com/definition/default.

  Chicago Manual of Style (CMS)

  Default. fhfaoig.gov. Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. http://www.expertglossary.com/definition/default (accessed: June 2, 2023).

  Modern Language Association (MLA)

  "Default." Federal Housing Finance Agency Glossary of Terms. Federal Housing Finance Agency, Office of Inspector General. 2 June. 2023 http://www.expertglossary.com/definition/default.

• Browse Related Terms: agent, Beneficiary, Co-Homeowners, Deed, Default, Grantor, Negative Equity, Real property, Title, trust, trust deed, Trustee

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