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.


References
 
Category(s)
Real Estate Glossary - Real Estate Terminology
[edit]
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .