“Forbearance” vs. “Deferment”: What’s The Difference?
If you have a loan, especially a student loan or a mortgage, there may come a time when you aren’t able to keep up with your payments. But there are options when it comes to repayment relief, including one called a forbearance and one called a deferment. Both can involve temporarily postponing or pausing (or temporarily lowering) loan payments. But there can be a crucial …