FORBEARANCE

Forbearance

In the context of a mortgage process, forbearance is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is “holding back.”

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forbearance

Noun

  1. Restraint under provocation.
  2. A refraining from the enforcement of something (as a debt, right, or obligation) that is due.


The above text is a snippet from Wiktionary: forbearance
and as such is available under the Creative Commons Attribution/Share-Alike License.

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