Forbearance for Homeowners

Forbearance is a temporary agreement with your mortgage servicer to pause or reduce your payments during a period of financial hardship, such as job loss or a medical emergency.

The paused or reduced payments don't disappear — they're typically repaid later through a repayment plan, a lump sum, moved to the end of the loan, or addressed through a loan modification, depending on your servicer's terms.

Contact your loan servicer directly, explain your hardship, and ask specifically about forbearance options. Federally-backed loans often have standardized forbearance programs with defined terms.

You'll need a plan for the paused amount: a repayment plan (spreading the missed payments over future months), a modification (restructuring the loan), or a lump-sum payment. Understand this plan *before* entering forbearance, not after.

If your servicer agrees to forbearance, payments made under the agreed terms are generally not reported as late — though rules can vary, so confirm this directly with your servicer before proceeding.

Forbearance is temporary and doesn't change your loan's permanent terms; a loan modification permanently restructures the loan itself. Many homeowners use forbearance as a short-term bridge and modification for a longer-term fix.