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forbearance
[fawr-bair-uhns]
noun
the act of forbearing; a refraining from something.
Synonyms:forbearing conduct or quality; patient endurance; self-control.
Their teacher exhibited great forbearance when the children started acting up in class.
Synonyms: , , ,an abstaining from the enforcement of a right.
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
/ ɔːˈɛəəԲ /
noun
the act of forbearing
self-control; patience
law abstention from or postponement of the enforcement of a legal right, esp by a creditor allowing his debtor time to pay
Other Word Forms
- nonforbearance noun
Word History and Origins
Origin of forbearance1
Example Sentences
If you are placed on a forbearance plan, you will eventually have to pay what is owed once the plan expires.
If necessary, you can also look into deferment and forbearance options.
That pause, known as mortgage forbearance, would apply only to federally backed loans in areas where a federal disaster declaration has been signed by the president, said Chu, who represents Altadena.
Smart and Einbinder gain the most attention for their two-handers in this show, but this season, Downs shows us new layers of sensitivity and forbearance even as Kayla continues to test Jimmy's boundaries.
Lloyds said it "went to enormous lengths over many years" to try to get the customers in this article "back on track with their repayments, showing considerable forbearance and understanding".
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When To Use
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.
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