Pros and Cons of Using a Forbearance Agreement to Avoid Foreclosure
A forbearance agreement is sometimes offered to borrowers struggling to meet their mortgage loan obligation and those entering pre-foreclosure. When lenders enter into a real estate forbearance agreement, they agree not to proceed with the foreclosure action as long as the mortgagors comply with the terms. The forbearance agreement allows borrowers to obtain special financing terms for a specified period […]
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