What Is a Notice of Default or Acceleration?

You’ve been going through a hard time, and it’s taken a toll on your financial health. Maybe you’re facing a divorce, job loss, injury or illness.

You’re struggling to keep up with your mortgage payments.

Then your mortgage lender sends you a notice of default/acceleration.

What does that mean?

Most mortgages contain an “acceleration” clause. When you miss a payment, your bank can demand that you pay off the entire balance of your loan right now. If you can’t, you face foreclosure.

Before they can enforce this, however, you get a limited time to fix the missed payment.

You and your home are in a vulnerable position. Protect your rights by working with a foreclosure defense attorney from the Horenstein, Nicholson & Blumenthal law firm.

Our law firm doesn’t represent banks. We represent Ohio homeowners. Our goal is to help you end the confusion and move on with your life.

All you need to know is this: “Helping me, that’s HNB.”

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What Your Notice of Default/Acceleration Should Say

These warning notices from your bank are often required to give you certain information:

  • The warning of your default—typically that you missed a payment
  • What you can do to correct the problem—typically paying all missed payments and late fees
  • Your deadline for correcting the problem—typically 30 days after the notice
  • What will happen if you don’t make up the missed payments and fees—typically accelerating your debt (requiring you to pay it off now) or foreclosing on your home

Because of that 30-day window to prevent a worse outcome, when you get one of these notices, you need to act fast.

You can start by getting the foreclosure attorneys at HNB to evaluate your situation for free.

Get My Free Case Review 
A man sits at a desk with papers and a laptop computer, talking on the phone. Notices of default or acceleration from mortgage companies should provide information on what will happen next.

Notices of default or acceleration from mortgage companies should provide information on what will happen next.

What Can You Do about a Notice of Default/Acceleration?

Does receiving one of these intimidating notices mean you’re going to lose your home?

No.

An experienced foreclosure defense attorney can look for violations committed by the bank—letting you turn the tables and go after them in federal court.

We’ll look for every available defense and help you to sort through all your options, which can include the following:

Having your mortgage lender turn against you is scary. But you can fight back. And you don’t have to take this on alone.

Call HNB Now! 
Two men stand, looking at papers, by an office building window. HNB lawyers can help you decide your best options when you receive a notice of mortgage default or acceleration.

HNB lawyers can help you decide your best options when you receive a notice of mortgage default or acceleration.

Horenstein, Nicholson & Blumenthal can handle your case by phone. Stay home and safe.

As an essential service, we are still open and conducting business for both new and existing clients by phone, email, and mail whenever possible.

We have set up "touch-less" contact options for dropping off paperwork when necessary. Any older or medically vulnerable clients intending to come by the office should call ahead for special scheduling.

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