NOD
Business & Finance abbreviation · Real Estate & Mortgage
| Stands for | Notice of default |
|---|---|
| Categories | Business & Finance |
NOD stands for Notice of default, a real estate & mortgage abbreviation.
Public notice recorded by a lender or trustee declaring that a borrower has fallen behind on mortgage payments, the first formal step in a nonjudicial foreclosure in states such as California.
Example: An NOD was recorded on the house in March, so the owners are trying to sell before the auction.
Usage notes
In California, at least three months must pass after the NOD before a notice of trustee's sale can be recorded, giving the borrower time to reinstate the loan.
Related abbreviations
More real estate & mortgage abbreviations
- MIP – Mortgage insurance premium
- MLO – Mortgage loan originator
- MLS – Multiple listing service
- NMLS – Nationwide Multistate Licensing System
- NN – Double net lease
- NNN – Triple net lease
- NOI – Net operating income
- P&I – Principal and interest
- PITI – Principal, interest, taxes and insurance
- PMI – Private mortgage insurance
- POA – Property owners association
- PSA – Purchase and sale agreement