Forbearance
Forbearance is a temporary pause or cut in your mortgage payments. Lenders grant it during a hardship.
What Forbearance means
The paused amount is repaid later, on terms you agree to. It is a tool to avoid falling behind.
Florida example
A Florida owner who loses income may ask for forbearance. It buys time to recover and stay in the home.
A pause on payments
Forbearance is a temporary pause or reduction of your mortgage payments during a hardship, like a job loss or medical event. It gives you breathing room without going into foreclosure.
The missed payments are not erased; you repay them later through a plan.
How repayment works
After forbearance, you may repay the skipped amount over time, add it to the loan balance, or handle it through a modification. The right path depends on your situation.
If you are struggling, act early. Reach out and we will help you explore forbearance and what comes after.
Verify the details for your own situation against these government and agency sources: CFPB Owning a Home guide and HUD homebuyer resources.