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Forbearance - Wikipedia, the free encyclopedia
In the context of a mortgage process, forbearance is a special agreement between the lender and the borrower to delay a foreclosure. Loan borrowers sometimes have problems making payments. This may ...
en.wikipedia.org/wiki/Forbearance |
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Definition of forbearance from the Merriam-Webster Online Dictionary with audio pronunciations, thesaurus, Word of the Day, and word games. ... Learn more about "forbearance" and related topics at Britannica.com...
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Question: What does "forbearance" mean? ... Answer: If you miss a mortgage payment, the lender has a right to foreclose -- to sell your property to recover the loan ... Keep in mind that forbearance is an option, not a requirement, and that lenders are most-likely to help those who try to work out a reasonable accommodation.
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Definition of "Forbearance" ... FORBEARANCE - The act by which a creditor waits for the payment of the debt due him by the debtor, after it has become due. When the creditor agrees to forbear with his debtor, this is a sufficient consideration to support an assumpsit made by the debtor.
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Definition of forbearance in the Online Dictionary. Meaning of forbearance. Pronunciation of forbearance. Translations of forbearance. forbearance synonyms, forbearance antonyms. Information about forbearance in the free online English dictionary and encyclopedia. ... 2. Tolerance and restraint in the face of provocation;
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- explain forbearance ... In the thrift industry, forbearance sometimes refers to an agreement by a lender to refrain from taking legal action when a mortgage is in arrears, as long as the borrower complies with a satisfactory arrangement to pay off the past due balance by a future date.
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