Definition: 1. Mortgaged loans are a type of loan in which the lender provides funds to the borrower at a fixed rate per period, with interest paid on the principal and some or all of the interest. 2. A forbearance period is a period during which an individual makes payments of principal and interest on their mortgage for a specific amount of time without having to make any further payments. 3. Forbearance is often used by individuals who are experiencing financial difficulties, such as job loss or illness that requires the borrower to take on more debt. The forbearance period can help alleviate pressure and reduce the burden of debt. 4. In some cases, forbearance periods are extended indefinitely without an individual being required to make further payments. This can be beneficial for individuals who have been struggling financially but still need to pay their mortgage. 5. A forbearance period is often used when a borrower has received a loan with a high interest rate or if the borrower has exceeded their monthly payment limit. In these situations, it may be possible to extend the forbearance period indefinitely without increasing the interest rate on the loan.

mortgage forbearance