Finance
A North Dakota borrower who is 90 days or more behind on mortgage payments and receives a formal notice from the lender is in:
ADefault✓ Correct
BPre-foreclosure
CForbearance
DLis pendens
Explanation
Default occurs when a borrower fails to meet the terms of the mortgage agreement, typically by missing payments. Default triggers the lender's ability to initiate foreclosure proceedings if not cured.
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