What Happens If I Default on My Loan?
Updated 7 days ago (March 6, 2026)
First, the lender will file a Notice of Default. This Notice is a letter stating you are behind on your mortgage payments and requires you to complete your late payments as soon as possible. For example, in California, the lender typically must wait to file a Notice of Default for at least 90 days after the date that you fail to make your mortgage payment. Within that 90-day period, you have the ability to reinstate the loan and pay back your debt, whether by completing a partial payment or paying the total amount (in the case of an "acceleration of the debt" clause in your mortgage).
After this period has passed without you commencing repayment, the lender may begin the formal process of foreclosure upon filing a Notice of Default.
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