forbearance

[ fawr-bair-uhns ]

noun

1. the act of forbearing; a refraining from something.

   Synonyms: abstinence

2. forbearing conduct or quality; patient endurance; self-control:

   Their teacher exhibited great forbearance when the children started acting up in class.

   Synonyms: indulgence, sufferance, toleration, tolerance

3. an abstaining from the enforcement of a right.
4. Finance. a form of repayment relief granted by a lender that temporarily postpones payments due from a borrower, while interest on the loan typically continues to accrue:

   When he had difficulty making his monthly mortgage payments, the bank granted a forbearance, so he avoided foreclosure on his home.

forbearance

/ fɔːˈbɛərəns /

noun

1. the act of forbearing
2. self-control; patience
3. law abstention from or postponement of the enforcement of a legal right, esp by a creditor allowing his debtor time to pay

Other Words From

• non·for·bear·ance noun

Word History and Origins

Origin of forbearance¹

First recorded in 1570–80; forbear + -ance

Example Sentences

It reminds us that everybody is aching in some way and therefore deserving of forbearance.

From Salon

Homeowners may also qualify for a mortgage forbearance for 12 months after natural disasters and are advised to connect with their lender to notify them of the status of their home and ability to pay.

From Salon

“You can also submit it online through their portal. The second I submit that application, I would put my loans in processing forbearance.”

From Salon

For Rhaenys this episode is a culmination of an arc defined by loyalty, stoic grace and power, but also forbearance.

From Salon

And it credits borrowers for months they spent in deferment or in lengthy periods of forbearance.

From Los Angeles Times

Related Words

• fortitude
• self-control

More About Forbearance

What does forbearance mean in mortgages?

Forbearance is a form of repayment relief granted by a lender that temporarily postpones payments due from a borrower, while interest on the loan typically continues to accrue. The terms of forbearance are negotiated between the borrower and the lender.

For example, if an individual has difficulty making monthly mortgage payments, a forbearance agreement from the bank can avoid foreclosure on the person’s home.

Examples of forbearance in a sentence

“Forbearance doesn’t mean your payments are forgiven or erased. You are still required to repay any missed or reduced payments in the future, which in most cases may be repaid over time.”
—“Learn about mortgage relief options and protections” Consumer Financial Protection Bureau. Retrieved August 19, 2020.

“In most cases the length of the [forbearance] plan will not exceed 18 months from the first reduced or suspended payment, and will stipulate commencement of foreclosure action if you default on the agreement.”
—LaTonya S. Johnson, The Game of Foreclosure and How to Play It, second edition (1995), page 22. Retrieved August 19, 2020 from Google Books.

Other terms connected with the topic of forbearance

• mortgage
• foreclosure
• foreclose
• interest
• default