Mortgage Forbearance
Lending & MortgagesA temporary agreement with your lender to reduce or pause mortgage payments during financial hardship.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding mortgage forbearance helps you see how your monthly payment of approximately $1,896 is structured — and how this concept affects your total cost over the life of the loan. Use our mortgage calculator to see how mortgage forbearance impacts your specific situation.