Forbearance Agreement


Definition of "Forbearance Agreement"

An agreement by the lender not to exercise the legal right to foreclose in exchange for an agreement by the borrower to a payment plan that will cure the borrowers delinquency.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Reinsurance Clause

Provision that covers a business to be protected under a reinsurance treaty. The class either can ap ...

Income Replacement Ratio

Percentage of income required by a retiree to maintain a desired standard of living during the retir ...

Notarize

A notary public's guaranteeing the authenticity of a signature. ...

Estate For Life

Having an interest in property for the duration of one's life after which the title reverts to anoth ...

Barter

Exchange of products or property between individuals in which no cash is paid. ...

Additional Deposit Privilege

Clause in some current ASSUMPTION WHOLE LIFE INSURANCE policies Such as UNIVERSAL LIFE insurance tha ...

Related Real Estate FAQ

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The cred ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

What Is Homeowners Association (HOA)?

Homeowners association is a nonprofit association that manages the common areas of a condominium or ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Is it better to buy or sell a home first Foreclosure - The Pros and Cons of Buying 5 signs of house foundation problems 7 Tips for a First Time Homebuyer Tax Breaks for the First Time Home Buyer

FAQ

If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee? What is comprehensive homeowners insurance? What is a mortgagee? What is a down payment? What is a Ginnie Mae?