Term: Forbearance

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A temporary agreement in which a lender allows a borrower to reduce or pause their loan payments for a period of time without penalty. 

Articles relating to Forbearance: 

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Modification vs. Forbearance: Choosing the Right Agreement

When a loan goes into default, the simple response is for the lender to initiate foreclosure. However, many lenders will prefer to take an alternative course of action and attempt …

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Forbearance Agreement
Forbearance Agreement

Forbearance Agreements 101: What To Do When Your Borrower Can’t Pay

From natural disasters, global pandemics, and looming recessions, lenders and borrowers alike are often forced to adapt to a shifting financial landscape. In times of crisis, it is common for …

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Understanding Forbearances

Understanding Forbearances

A forbearance is the process of offering borrowers a temporary reduction in the amount they pay on their regular installments or a periodic deferment of mortgage payments. Debtors opting into …

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