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Real Estate Glossary

What is Default?

Default is the failure to fulfill a legal or contractual obligation, such as the failure to make a required payment on a loan or mortgage. Default can have serious consequences, such as the loss of a property through foreclosure or the damage to a person's credit score. Default can also result in legal action being taken against the borrower, such as a lawsuit or a judgment.

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
Beycome Corp. holds real estate brokerage licenses in Multiple States: Beycome of Florida LLC is licensed in FL. Beycome Brokerage Realty LLC is licensed in AL, CA. CT, GA, IL, IN, MI, MN, NC, SC and TX.
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