Forbearance
Direct definition
A temporary pause or reduction in mortgage payments granted by the servicer during hardship.
Written by the Vabasso Mortgage Editorial Team · Reviewed against agency and federal sources · Read our editorial policy for how we research and review mortgage content
Plain-English explanation
Forbearance doesn't erase payments — missed amounts are handled through a repayment plan, deferral, or modification when the forbearance ends.
Why it matters
It's a critical option to avoid default during job loss, disaster, or medical emergency.
Where you may see it
- Servicer notices
- Forbearance agreement
- Mortgage statement
A real-world example
You lose income for three months and receive a forbearance plan; missed payments are added to the loan's tail via a partial claim.
Educational and illustrative only
A common misunderstanding
Forbearance does not erase or forgive missed payments — it postpones them, and they must still be repaid through a plan afterward.
Ask Vabasso AI
This glossary provides general educational information. Mortgage terminology, qualification methods, forms, timelines, fees, program rules, and legal meanings may vary by lender, investor, loan program, property, occupancy, state, and transaction. Definitions do not represent loan approval, legal advice, tax advice, or a commitment to lend.
- Author
- Vabasso Mortgage Editorial Team
- Reviewed by
- Vabasso Mortgage Licensed Advisory Team
- Last reviewed
- July 30, 2026