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OTHER WORDS FROM forbearancenon·for·bear·ance, noun
Words nearby forbearance
What 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.
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” Consumer Financial Protection Bureau. 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 Google Books.
How to use forbearance in a sentence
Eviction moratoriums and forbearance on mortgages and student loan payments are also factored in.It’s easy to assume pawnshops are doing great in the pandemic. It’s also wrong.|Emily Stewart|November 30, 2020|Vox
“There’s a benefit to everyone taking a deep breath and stepping back and giving the parties a chance to get things back on track,” Devlin said of forbearance agreements.Bank gives Purple Line firms more time to reach a settlement with Maryland and avoid potential default on debt|Katherine Shaver|November 8, 2020|Washington Post
The mortgages, car loans, and the like no longer covered by forbearance are showing few defaults.Bank of America just ended a weak quarter—but there were 3 little-noticed bright spots|Shawn Tully|October 18, 2020|Fortune
On the conference call, Dimon and Piepszak cited that although forbearance has ended for auto and card loans, it’s still allowing customers with $28 billion in mortgages to defer payments.
He says that’s mostly because the government’s unprecedented aid to families and businesses, and the banks’ forbearance programs, have delayed defaults for months that would have come far earlier.
Parenting a preschooler is hard (believe me, I know), and it takes a lot of time, energy, and forbearance to do it right.Why Giving Adderall to Toddlers Is So Completely, Utterly Wrong|Russell Saunders|May 19, 2014|DAILY BEAST
Paul is right that we must deal with the Bundy crisis in the spirit of neighborly forbearance.
But selfies, like people, deserve our forgiveness, our forbearance, and our support.In Defense of the Selfie, Oxford English Dictionary’s Word of the Year|James Poulos|November 20, 2013|DAILY BEAST
My daughters treated their grandmother with infinite forbearance and affection.Richard Russo Talks About New Memoir “Elsewhere” And His Mother’s Illness|Jane Ciabattari|November 12, 2012|DAILY BEAST
But in the here and now of it, I ask for your patience, and forbearance, while I give it a shot.
And when wine had unselfed my noble father, you received his passionate insults with forbearance and forgiveness!The Pastor's Fire-side Vol. 3 of 4|Jane Porter
I endured his insults until the time came when further forbearance would have been a disgrace, and then I closed with him.The Soldier of the Valley|Nelson Lloyd
She did not expect much forbearance, but it never occurred to her that things could come to such a terrible pass.Skipper Worse|Alexander Lange Kielland
I feel that I can, with confidence, rely upon the magnanimity and forbearance of my patrons, under this state of things.Portrait and Biography of Parson Brownlow, The Tennessee Patriot|William Gannaway Brownlow
Surely a spoiled old man-child like the crouching figure yonder would exhaust the forbearance of Jizo Sama himself!The Dragon Painter|Mary McNeil Fenollosa