The Real Estate Encyclopedia
Temporary Indulgence
Category - Real Estate Glossary - Real Estate Terminology
In a foreclosure, a temporary indulgence is a grace period, usually 30 to 60 days, which may be granted to bring the mortgage current. If Temporary Indulgence is requested, a homeowner will need to demonstrate evidence that warrants the grace period. An indulgence is considered to be appropriate in the following situations:

  • A contract for sale has been ratified and a closing date can be verified.
  • An insurance settlement
  • Pending receipt of approved funding (refinance)


References
 
Category(s)
Real Estate Glossary - Real Estate Terminology
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