Mortgage forbearance is an agreement between a homeowner and their mortgage servicer to temporarily lower or pause payments due to financial hardship. However, it’s important to note that this isn’t debt forgiveness—you’ll still be responsible for making up the missed payments later. The goal is to provide short-term relief so that homeowners can stabilize their finances without losing their homes.
What to Expect From Mortgage Forbearance
Life doesn’t always go as planned. When financial hardships hit—whether due to job loss, unexpected expenses, or economic downturns—keeping up with mortgage payments can become a real challenge. That’s where mortgage forbearance comes in. It’s...
