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What is mortgage forbearance?

What is mortgage forbearance?
May 13, 2020 admin
forbearance agreement mortgages done right

Forbearance is when your mortgage lender permits you to pause, or reduce your monthly mortgage payments for a period of time while you regain your financial footing. This however, does not mean your payments are forgiven or erased. You are still required to repay any missed or reduced payments in the future.

Make sure you understand how the forbearance will be repaid. There can be different forbearance programs or options, depending on the type of your loan.

Once your income is back to normal, reach out to your servicer and resume making payments as soon as you can so your future obligation is limited.

It is important to keep in mind that depending on the kind of loan you have, there may be different forbearance options. For example, if you have a Fannie Mae, Freddie Mac, FHA, VA, or USDA loan, you won’t have to pay back the amount that was suspended all at once—unless you are able to do so.


At the end of the forbearance, your options can include paying all of your missed payments at one time, spread out over a period of months, or added as additional payments or a lump sum at the end of your mortgage.

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