The Real Estate Encyclopedia
Special Forbearance
Category - Real Estate Glossary - Real Estate Terminology
During a foreclosure, a lender may be able to arrange a repayment plan based on a homeowner's financial situation. This may include a temporary reduction or suspension of mortgage payments. Homeowners may qualify for this if they have recently experienced a reduction in income or an increase in living expenses. It is necessary to furnish information to show the ability to meet the requirements of the new payment plan.

Real Estate Glossary - Real Estate Terminology
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