Special Forbearance Law and Legal Definition
A special written agreement between a lender and a borrower to delay a foreclosure is known as special forbearance. In this case the lender proposes a revised repayment plan that may include reinstating an asset and a temporary downsizing or postponement of monthly mortgage payments in order to prevent foreclosure.
Legal Definition list
Related Legal Terms
- Adult With a Special Need
- American Board of Medical Specialties (ABMS)
- Area of Special Flood Hazard
- Area of Special Flood-Related Erosion Hazard
- Area of Special Mudslide Hazard
- Board of Legal Specialization
- Certified International Property Specialist
- Certified Therapeutic Recreation Specialist
- Competitive, Special, And Facilities Research Grant Act
- DDESS Special Arrangement
