Default
Definition
Failure of the borrower to honor the terms of the loan agreement. Lenders (and the law) usually view borrowers delinquent 90 days or more as in default.
Related Terms Other terms related to 'Default' starting with the letter 'D' Demand clause, Down payment, Documentation requirements, Dual apper, Debt consolidation Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 