Forbearance
Lending & MortgagesA temporary reduction or suspension of loan payments, with interest typically still accruing during the period.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding 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 forbearance impacts your specific situation.