forbearance

Definition

A lender's postponement of foreclosure in order to give the borrower time an opportunity to make up for overdue payments.

Use forbearance in a sentence

Stephen was grateful for the bank's forbearance because it allowed him to avoid foreclosure long enough to get up to date on his payments.

​ Was this Helpful? YES  NO 5 people found this helpful.

Bill called and asked for a forbearance on his loan. He thought if he received a delay in his payment he could come up with all the money and save his house.

​ Was this Helpful? YES  NO 5 people found this helpful.

In the aftermath of the financial crisis of 2008, many American politicians called on banks and lenders to grant forbearance to homeowners with delinquent mortgage payments due to the floundering economic landscape.

​ Was this Helpful? YES  NO 5 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
for the benefit of Forbes 500