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November 23, 2009

Real Estate Forbearance

Real estate forbearance agreements are used when mortgage borrowers become delinquent with home loan payments. In order to qualify for loan forbearance, homeowners must possess the financial ability to make future payments and work with a bank loss mitigator to devise a repayment plan to cure mortgage arrearages.

When real estate forbearance agreements are issued the mortgage lender agrees not to initiate foreclosure proceedings as long as the borrower complies with payments terms. Mortgage forbearance repayment plans typically extend between three and twelve months.

Real Estate Investing article on "Real Estate Forbearance"

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