What is a loan default?

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30th Nov 2009 by Burt Carlson

When a borrower accepts a loan from a lender it is with the understanding that the loan comes with certain terms. The borrower agrees to comply with these terms and will be in default if one or more of the terms is not met. The most common default on a loan is for late or non payment.

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17th Nov 2009 In Finance 1 Answers | 567 Views
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