Forbearance, in the context of a mortgage process, is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is "holding back".

Is it bad to go into forbearance?

Even if you qualify for forbearance, you won't automatically be granted that protection. You must apply for it, and stopping payments before you've officially been granted forbearance on your loan may make you delinquent on your mortgage and have a serious negative impact on your credit score.

What does forbearance mean for a mortgage?

Forbearance is when your mortgage servicer, that's the company that sends your mortgage statement and manages your loan, or lender allows you to pause or reduce your payments for a limited period of time. ... You'll have to repay any missed or reduced payments in the future.