The provision enables the mortgagee to order a public sale without court decree, which is called a non-judicial foreclosure.
A Notice of Default is a letter from a lender to a borrower requesting the payment of past due amounts. The borrower has ninety (90) days to pay the past due amounts or foreclosure proceedings will begin.
There is no guarantee that the title is clear. There may be some outstanding liens still in effect, such as a federal tax lien, real property taxes or assessments, or a valid mechanic’s lien.