← All Glossary Terms
Definition
Mortgage forbearance is a temporary agreement with your lender to pause or reduce your monthly payments while you face a financial hardship. It gives you breathing room during a job loss, medical event, or disaster, but the relief is not free money. The paused amounts are not forgiven and must be repaid later, typically through a lump sum, a repayment plan that spreads the balance over time, or a deferral that moves the missed payments to the end of your loan. Forbearance is distinct from a loan modification, which permanently changes your loan's terms such as the interest rate or length. Terms, durations, and repayment options vary by lender and loan type, so you should confirm exactly how your missed payments will be handled before you enter into any agreement.
Also Known As
Payment forbearance
Mortgage payment pause
Forbearance plan
Hardship forbearance
Used in Context
- After losing her job, she called her servicer and was approved for six months of mortgage forbearance to keep her home while she searched for work.
- Homeowners who request forbearance through a lead-gen platform like Dreamy Leads are often matched with servicers who explain their repayment options upfront.
- When his forbearance period ended, he chose a repayment plan that added a portion of the paused amount to each monthly payment instead of paying a lump sum.
Do I have to repay the payments I skipped during forbearance?
Yes. The amounts you pause during forbearance are not forgiven and must be repaid later. Depending on your lender and loan type, you may repay through a lump sum, a repayment plan that spreads the balance over time, or a deferral that moves the missed payments to the end of your loan.
How is forbearance different from a loan modification?
Forbearance is a temporary pause or reduction in payments that you must repay later. A loan modification permanently changes your loan's terms, such as the interest rate or length. Forbearance is short-term relief during hardship, while a modification reshapes the underlying loan itself going forward.
Will forbearance stop my home from going into foreclosure?
Forbearance is designed to give you temporary relief during hardship and can help you avoid falling behind, but outcomes vary by lender and loan type. Because the paused amounts must still be repaid, you should confirm your repayment options early to stay on track and protect your home.
Ready to compare mortgage options?
Free quotes from licensed experts — no spam, no obligation, results in 60 seconds.
Get Free Quotes →