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2. What is a notice of default? - AOL

   www.aol.com/finance/notice-default-200058388.html

   A notice of default is the first legal step in foreclosure. If left unaddressed, you could lose your home. ... they can challenge it by calling or writing a letter to the servicer to explain the ...

3. Default (law) - Wikipedia

   en.wikipedia.org/wiki/Default_(law)

   A notice of default is a notification given to a borrower stating that a payment has not been made by the predetermined deadline, or is otherwise in default on the mortgage contract. Other ways a borrower may be in default include not providing proper insurance coverage for the property, or not paying due property taxes as agreed.

4. Automatic renewal clause - Wikipedia

   en.wikipedia.org/wiki/Automatic_Renewal_Clause

   An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...

5. Termination for convenience - Wikipedia

   en.wikipedia.org/wiki/Termination_for_convenience

   A termination for convenience clause, or "T for C" clause, [1] enables a party to a contract to bring the contract to an end without the need to establish that the other party is in default, for example because the client party's needs have changed, or in order to arrange for another party to complete the contract.

6. Event of default - Wikipedia

   en.wikipedia.org/wiki/Event_of_default

   For example, a contract may state that the recording of a lien against certain property is a default. If the default is left uncured after notice and the passage of time, it may ripen into an event of default, which creates in the non-defaulting party certain rights, such as acceleration of a debt or the right to exit a contract.

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