patience, forbearance, longanimity(noun)
good-natured tolerance of delay or incompetence
a delay in enforcing rights or claims or privileges; refraining from acting
"his forbearance to reply was alarming"
Restraint under provocation.
A refraining from the enforcement of something (as a debt, right, or obligation) that is due.
the act of forbearing or waiting; the exercise of patience
the quality of being forbearing; indulgence toward offenders or enemies; long-suffering
In the context of a mortgage process, forbearance is a special agreement between the lender and the borrower to delay a foreclosure. The literal meaning of forbearance is “holding back.” Loan borrowers sometimes have problems making payments. This may cause the lender to start the foreclosure process. To avoid foreclosure, the lender and the borrower can make an agreement called "forbearance". According to this agreement, the lender delays his right to exercise foreclosure if the borrower can catch up to his payment schedule in a certain time. This period and the payment plan depend on the details of the agreement that are accepted by both parties. Forbearance is usually for temporary financial problems. If the borrower has more serious problems, for example if it is a variable-rate mortgage and the interest rate becomes unaffordable for the borrower, then forbearance is usually not a solution. When a lender offers a forbearance, they are taking control of the situation so that they can maneuver whichever way best serves the lender. The borrower is still responsible for the total monthly payment due each month, though they will accept the agreed forbearance amount. When the forbearance period is over the total amount of the original payments for that period is still due.
The Roycroft Dictionary
1. To forgive an enemy who has been shorn of power. 2. To buy golden opinions of one's self. 3. To slay with irony or pity.
The Foolish Dictionary, by Gideon Wurdz
The spirit of toleration shown when a man who knows, patiently listens to a fool who does not.
The numerical value of forbearance in Chaldean Numerology is: 5
The numerical value of forbearance in Pythagorean Numerology is: 7
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Translations for forbearance
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