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forbearance
[ fawr-bair-uhns ]
noun
- the act of forbearing; a refraining from something.
Synonyms:
- forbearing conduct or quality; patient endurance; self-control:
Their teacher exhibited great forbearance when the children started acting up in class.
Synonyms: , , ,
- an abstaining from the enforcement of a right.
- Finance. a form of repayment relief granted by a lender that temporarily postpones payments due from a borrower, while interest on the loan typically continues to accrue:
When he had difficulty making his monthly mortgage payments, the bank granted a forbearance, so he avoided foreclosure on his home.
forbearance
/ ɔːˈɛəəԲ /
noun
- the act of forbearing
- self-control; patience
- law abstention from or postponement of the enforcement of a legal right, esp by a creditor allowing his debtor time to pay
Other Word Forms
- ԴDz·ڴǰ··Գ noun
Word History and Origins
Origin of forbearance1
Example Sentences
That pause, known as mortgage forbearance, would apply only to federally backed loans in areas where a federal disaster declaration has been signed by the president, said Chu, who represents Altadena.
Smart and Einbinder gain the most attention for their two-handers in this show, but this season, Downs shows us new layers of sensitivity and forbearance even as Kayla continues to test Jimmy's boundaries.
Lloyds said it "went to enormous lengths over many years" to try to get the customers in this article "back on track with their repayments, showing considerable forbearance and understanding".
But because borrowers with federal loans can choose from forbearance, deferment or income-driven repayment, it’s that much more challenging to prove undue hardship.
Many banks already have policies allowing up to three additional months of payment forbearance.
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Related Words
More About Forbearance
does forbearance mean in mortgages?
Forbearance is a form of repayment relief granted by a lender that temporarily postpones payments due from a borrower, while interest on the loan typically continues to accrue. The terms of forbearance are negotiated between the borrower and the lender.
For example, if an individual has difficulty making monthly mortgage payments, a forbearance agreement from the bank can avoid foreclosure on the person’s home.
Examples of forbearance in a sentence
“Forbearance doesn’t mean your payments are forgiven or erased. You are still required to repay any missed or reduced payments in the future, which in most cases may be repaid over time.”
—“Learn about mortgage relief options and protections” . Retrieved August 19, 2020.
“In most cases the length of the [forbearance] plan will not exceed 18 months from the first reduced or suspended payment, and will stipulate commencement of foreclosure action if you default on the agreement.”
—LaTonya S. Johnson, The Game of Foreclosure and How to Play It, second edition (1995), page 22. Retrieved August 19, 2020 from .
Other terms connected with the topic of forbearance
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