The notice shall specify: (a) the default (b) the action required to cure the default (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. Lender shall give notice to Borrower prior to acceleration following Borrowerís breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). Normally this is in paragraph 22 and will read something like this:Īcceleration Remedies. Under the typical mortgage (you have to look at yours) the procedure for default letters is laid out. The notice of default (default letter) basically tells you that you have broken some promise in the mortgage. What is happening with the notice of default or default letter (and why are you getting it from your mortgage company)? What is happening with the default letter.The default letter (or “notice of default”) is the critical first step in the foreclosure process against you in Alabama. Alabama foreclosure: Critical keys to understanding a default letter or notice of default
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