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: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language