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Can someone tell me the steps by which mortgage arrears formally become a default?

 

Not so hypothetical situation - 6 months of arrears followed by sale of the house with full redemption of the joint mortgage. At what point, and in what format, would any Default have been issued or recorded? (It appears on the credit record as Settled but also Default.)

 

I'm trying to determine whether the default was correctly issued/recorded and who/how I should have been informed, given that I was not living there at the time. Please note that I am not trying to determine blame for non-payment of the mortgage, that is without question - simply the legalities of the default.

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More info. Mortgage taken out in 2002 (so presumably under The Mortgage Code).

 

Is The Mortgage Code still applicable? I know it's not current but does it still apply if the mortgage was taken out before it was revoked?

 

I'm reading in there that I should have been given at least 28 days notice of the mortgage company's intention to disclose the situation/debt to credit agencies.

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