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RECORDING REQUESTED BY WHEN RECORDED MAIL TO Name Street Address City & State TITLE ORDER NO. LOAN NO. SPACE ABOVE THIS LINE FOR RECORDER'S USE COMPUTER NO. T.S. NO. T.S. NO. OTHER REF. NOTICE OF
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Notice of default is a formal written notice sent to a borrower stating that they have failed to make their payments as agreed in the loan agreement.
The lender or creditor is required to file a notice of default when the borrower has defaulted on their loan.
A notice of default is typically filled out with the borrower's name, loan details, the amount owed, the reason for default, and the next steps the borrower can take to rectify the situation.
The purpose of a notice of default is to officially notify the borrower that they are in default of their loan agreement and give them an opportunity to address the issue.
The notice of default must include the borrower's name, loan details, amount owed, reason for default, and steps to resolve the default.
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