What is Forbearance?

What is Forbearance?
What is Forbearance?

It is called forbearance when a lender such as a bank decides not to take legal action against a borrower who did not make his or her payments on time. This usually happens when they agree to change the terms and come up with a new agreement that was satisfactory for both the lender and the borrower.

It is called special Forbearance when the lender arranges a revised repayment plan for the borrower or agree to a temporary reduction or suspension of monthly mortgage payments.

Mortgage FAQ
Learn everything you need to know about mortgage here!

What is Reverse Mortgage?
What is Reverse Mortgage? Is Reverse Mortgage for you?

What is Zoning?
What is Zoning and why is it important to know?

What is PMI?
What is Private Mortgage Insurance?

Mortgage Calculator
Calculate your monthly payments based on interest rate and the life of the loan.

What is Title Insurance?
What is Title Insurance and why do you need it?

What is Pre-Approval?
What is Pre-Approval and why is it a good thing?