Phrases with «forbearance agreement»

A "forbearance agreement" is a contract between a lender and a borrower that allows the borrower to temporarily stop or reduce their repayment obligations during a financial hardship. It provides relief to the borrower by postponing or modifying their loan repayments for a certain duration. Full definition

forbearance agreement

Sentences with «forbearance agreement»

Mortgage lenders are authorized to offer qualified homeowners informal forbearance up to three months, and can also enter into formal forbearance agreements of more than six months as determined by borrower need. (fhaloanpros.com)
Nevertheless, they entered into several forbearance agreements that allowed them to skip payments; and they also signed up for income - driven repayment plans that reduced the amount of their monthly payments. (condemnedtodebt.org)
The U.S. Consumer Financial Protection Bureau alleged that the company had encouraged struggling borrowers to take on forbearance agreements rather than income - driven repayment plans, effectively putting its own interests ahead of its customers. (fortune.com)
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Phrases with «forbearance agreement»

Sentences with «forbearance agreement»

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