Default
Default - Failure to repay a debt, and includes principal and interest. As example, if you owe 3 months of mortgage payments on a home, that you still have not paid, you would be in default on that loan.
Default - Failure to repay a debt, and includes principal and interest. As example, if you owe 3 months of mortgage payments on a home, that you still have not paid, you would be in default on that loan.