Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Notice of Default Notice of Default November 9, 2021 Formal written notice to a borrower that a default on a loan has occurred and that legal action may be taken.You Might Also Like: Family MattersPreparing Financially for a Baby Everyday MoneyBudget Friendly Ideas for Thanksgiving Everyday MoneySenior Discounts and Savings Everyday MoneyStarting an Emergency Savings Account Living QuartersQuestions to Ask Your Home Inspector