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Click ‘Get Form’ to open the notice default form in the editor.
Begin by filling in the recipient's name and address in the designated fields at the top of the form. Ensure accuracy as this is crucial for proper notification.
In the section regarding the seller and purchaser, input their respective names clearly. This identifies both parties involved in the contract for deed.
Specify the property address where applicable. This helps to clarify which property is under discussion.
Detail the past due payments by entering amounts owed for specific months and any late fees in their respective fields. Calculate and enter the total amount due accurately.
Finally, sign and print your name at the bottom of the form, along with today's date, to validate this notice before sending it out.

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What is a default notice?

Dear : This letter relates to the promissory note dated , of which you are the maker, in the original principal amount of (the Note). I am My company is the current holder of the Note. This letter is to notify you that you have defaulted on the installment payment under the Note due on , in the amount of .

What does a notice of default mean?

Of course you can ignore it as long as youre willing to accept the consequences. A default judgment against you, meaning you lose and depending on your state laws, you may end up with your wages garnished, or perhaps a lien against your property.

How serious is a default notice?

You will typically receive a default notice if youve not kept up-to-date on your payments for between three and six months. It is effectively a nudge from the lender to make your payments within a certain period of time, before things get more serious. Lenders legally have to give you at least 14 days to respond.

Should I ignore a notice of default?

A default notice is a letter the people you owe send to warn that you are behind on payments and your account may default. The people you owe usually send this after six months of missed or reduced payments. They give you at least two weeks to make up missed payments.

What is a notice of default letter?

Request for Entry of Default (Application to Enter Default) (CIV-100) Asks the court to enter a default against the defendant or cross-defendant because they failed to file an Answer or other responsive document in the case. Can be used to ask for a default alone, or also a default judgment. Get form CIV-100.