While it rarely comes as a surprise, the notice of default is typically the first official step in the foreclosure process. A notice of default is issued by the mortgage lender after the homeowner misses three or more scheduled monthly payments. While there is still time to take action and prevent foreclosure, the bank makes catching up very difficult when they start to refuse incomplete payments. Yes, your lender can refuse to accept your mortgage payment. The first question that many ask … [Read more...] about The Foreclosure Process – How to Stop A Notice of Default