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When a debtor chooses to default on a loan, despite being able to service it (make payments), this is said to be a strategic default. This is most commonly done for nonrecourse loans , where the creditor cannot make other claims on the debtor; a common example is a situation of negative equity on a mortgage loan in common law jurisdictions such ...
Default (finance), failure to satisfy the terms of a loan obligation or failure to pay back a loan; Default judgment, a binding judgment in favor of either party based on some failure to take action by the other party; Default rule, a rule of law that can be overridden by a contract, trust, will, or other legally effective agreement
A default, in computer science, refers to the preexisting value of a user-configurable setting that is assigned to a software application, computer program or device. Such settings are also called presets or factory presets , especially for electronic devices.
How does a notice of default work? A notice of default filing is the first step in the formal process of foreclosure. Here’s how it works: The borrower misses mortgage payments.
But in a Thursday interview with ABC News' Jonathan Karl, Trump suggested the impact of the U.S. government defaulting on its bills could "possibly mean nothing." "Nobody really knows.
Loan default happens when you regularly miss your monthly loan payments for an extended period of time. Depending on the loan type , this can be anywhere from one day to 270 days since the last ...
The default judgment is the relief requested in the party's original petition. [1] Default can be compared to a forfeit victory in sports. In a civil trial involving damages, a default judgment will enter the amount of damages pleaded in the original complaint. If proof of damages is required, the court may schedule another hearing on that issue.
a default that is deliberate, in the sense that the person committing the relevant act knew that it was a default (i.e. in this case a breach of contract). I consider that it does not extend to recklessness and is therefore narrower than wilful misconduct (although the latter will embrace deliberate default). [1] Before the De Beers case there ...