What is Forbearance? Forbearance is one option a homeowner has in order toavoid a home from going through foreclosure. Forbearance is the process whereby the mortgage company defers the principal mortgage payment, requiring only the escrow payment be made for the next one to six months. Homeowners sign a forbearance agreement to signify that the lender required them to pay the owed amount at a later time, saving them from foreclosure.
Hire a Forbearance Lawyer: Forbearance can help save a homeowner from foreclosure, and give them time to save extra money over the course of the months, so they can be able to return to making full mortgage payments in the near future. Forbearance lawyers work directly with lenders and develop payment strategies that favor homeowners. Forbearance lawyers can also help setting up short sales or presenting other options.
Find a Forbearance Lawyer: If you are a homeowner that is facing foreclosure on a property, it is recommended to speak to a forbearance lawyer. If you wish to save your home, a forbearance lawyer can advise you on your options. Attorney Search Network is a State Bar Certified Lawyer Referral Service and we can help you find a forbearance lawyer that can assist you.