The Real Estate Encyclopedia
What Is Forbearance?
Category - Mortgage Questions - Mortgage Loans FAQ's

Forbearance results from the act of refraining from taking the necessary legal steps, in spite of the fact that payment of a promissory note in a mortgage or deed of trust is overdue or in arrears.  Forebearance is only granted when a borrower makes a satisfactory arrangement by which any monies due or in arrears are paid at a future date. 



References
 
Category(s)
Mortgage Questions - Foreclosure & REO FAQ's
Mortgage Questions - Mortgage Loans FAQ's
Real Estate Information Sources - General Real Estate Information
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