Are there any interchangeable terms for 'Notice of Default' ?

[Account Closed]

I am in Texas and have been hitting up specific County Records online and am able to find foreclose information but no 'Notice of Default' information. Is it possible these are referred to by different terms? Google yields no answers. Thanks!

[Dion DePaoli]

Well a Notice of Default is not a notice which requires constructive notice. (Doesn't need to be recordrd) It is not itself an "action" so a NOD is not a Lis Pendis event since the notice mandates a cure along with a time to do so.

The steps are notice after 120 days in default.  Allotment for time to cure which varies slightly by state in the 20 to 30 day mark.  Then the loan must be accelerated.  This is important because other debt collection "clocks" start ticking, such as statues related to debt collection.  

Once accelerated the action starts upon filing.  The acceleration must occur in order to call for the action.  

So what you are seeing in Texas is the case in form in all other proceedings in various states.  Bear in mind the actual definition of foreclosure is the termination of the borrower's right or equity of redemption.  

A borrower need not be granted (or protected from) a right to redeem if the action does potentially create a loss of equity.

So to be clear a NOD is not a foreclosure action. It is simply a notice. The notice does not mandate or require a foreclosure action. Rather it is a step toward making the arugument that the mortgagee had to rely on legal remedies to enforce the terms of the loan.