Quick Answer
Forbearance lets you pause or reduce mortgage payments for a set period during a hardship, such as job loss or a medical event. The amount you don't pay isn't forgiven — you and your lender work out a repayment plan once the forbearance period ends.
- What it provides
- Temporary payment pause or reduction
- Is the debt forgiven?
- No — it's repaid later
- Who grants it
- Your mortgage lender or servicer
- Typically used for
- Job loss, illness, or other hardship
How Forbearance Works
To request forbearance, you contact your loan servicer and explain your hardship. If approved, your servicer sets a temporary plan, often for a period of months, during which your required payment is paused or reduced.
Once the forbearance period ends, you'll typically repay the missed amount through a repayment plan, a loan modification, or by adding it to the end of the loan, depending on what your servicer offers.
Forbearance vs. Other Options
Forbearance is meant to be temporary relief, not a long-term solution, and interest generally continues to accrue during the pause. It's different from a loan modification, which permanently changes your loan terms.
If you're facing a hardship and considering selling instead, our agents can walk you through selling quickly or other options alongside a conversation with your lender.
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Frequently Asked Questions — Forbearance
Does forbearance hurt my credit?
It can, depending on how your servicer reports it and your loan program's specific rules. Ask your servicer directly before entering forbearance.
How long does forbearance typically last?
Terms vary by lender and hardship type and can sometimes be extended, so ask your servicer about the specific timeline they're offering.
Do I have to repay everything at once when forbearance ends?
Not usually. Most servicers offer a repayment plan, modification, or other option rather than requiring a lump sum.
Is forbearance the same as a loan modification?
No. Forbearance is temporary payment relief, while a modification permanently changes your loan's terms.