Notice of Default: the first two conversations to have before assuming the worst.

by Patti Gregory

Being served a Notice of Default can feel overwhelming. For many homeowners, it triggers fear, confusion, and the sense that time has run out.

That’s not usually the case.

This is the first post in a short series designed to offer support, clarity, and real options — without pressure.

First: Explore Whether Refinancing Is Possible

One of the first conversations to have is with a lender about refinancing.

Why this matters:

  • Your loan balance may be lower than when you purchased

  • Payment terms may be adjusted

  • Monthly obligations could potentially be reduced

This isn’t about qualifying instantly — it’s about understanding whether this option exists.

 

Second: Call Your Current Lender

This step is often avoided, but it’s critical.

Many lenders do not want to take a home back. Foreclosure is costly and time-consuming. 

Asking questions like:

  • What hardship options are available?

  • Are there temporary or long-term solutions?

  • What programs might apply to my situation?

…can open doors that aren’t obvious from the outside.

 

The Bigger Picture

A Notice of Default is a signal to engage — not to panic.

There are often multiple paths forward, and the earlier those conversations happen, the more options remain available.

This series is meant to walk through those options step by step, so homeowners don’t feel alone or rushed into decisions.  Consider me your go-to resource.  I'm here to listen, offer advise is asked and just be there to support you!  Reach out anytime and here's your video

First steps to take when you are served an NOD

 

Patti Gregory Realtor
Your Partner in Success

714.398.1998
REAL Brokerage
DRE 01182154

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