1 : a refraining from the enforcement of something (such as a debt, right, or obligation) that is due The policy provides a means of forbearance for borrowers meeting certain criteria. 2 : the act of forbearing : patience He appreciated his wife's forbearances.

What happens if you go into forbearance?

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. Forbearance does not erase what you owe. You'll have to repay any missed or reduced payments in the future.

Do I have to pay back forbearance?

If you receive a payment deferral, you don't need to make up the payments you are allowed to pause or reduce during forbearance until the end of your loan. At the end of the loan, your servicer may require you to repay the skipped payments all at once from the proceeds of the sale or through refinance.