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: All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work? Family MattersFun Games to Teach Kids About Money Everyday MoneyWhat is the Difference Between a Credit Card and a Debit Card? Family MattersBudget Friendly Easter Basket Ideas