Receiving an official Notice of Default from your lender means that they have officially started the foreclosure process. A Notice of Default, or NOD, is issued by your lender's attorneys after 3 or more missed mortgage payments. At this stage of the foreclosure timeline, the bank will let you know how much must be paid in order to bring the account current - which after fees and penalties is typically an insurmountable number. This doesn't mean that you can't stop the foreclosure after … [Read more...] about Stop Foreclosure after a Notice of Default