Forbearance is an agreement between the lender and you to repay the delinquent amount in a lump sum or installment payments over six months. Your lender may decide, on the other hand, to allow you to pay a reduced monthly payment until you have an opportunity to get back on your feet and pay any remaining past due amounts in one lump sum. The forbearance may be an oral agreement or written contract between the lender and you. Generally these agreements will not exceed more than 12 months.

Need
Foreclosure Help?

Get
foreclosure help

and

Stop Foreclosure!