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Forbearance

The act of refraining from taking legal action despite the fact that payment of a promissory note in a mortgage or deed of trust is in arrears. It is usually granted only when a borrower makes a satisfactory arrangement by which the arrears will be paid at a future date.

See also:
  • Fair Credit Reporting Act
  • Fair Market Value
  • Fannie Mae
  • Fannie Mae`s Community Home Buying Program
  • Farm Home 100% loan
  • Federal Home Loan Mortgage Corporation
  • Federal National Mortgage Association
  • FHA
  • FHA 203b
  • FHA 203k
  • FHA Futures
  • FHLMC
  • Fiduciary
  • First Mortgage
  • First Right Of Refusal
  • Fixed Rate Mortgage
  • Flood Insurance
  • FNMA
  • FNMA
  • Forbearance
  • Foreclosure

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