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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

forbearance  

Definition 1.

A lender's postponement of foreclosure in order to give the borrower time an opportunity to make up for overdue payments.
 

Definition 2.

A postponement of loan payments, granted by a lender or creditor, for a temporary period of time. This is done in order to give the borrower time to make up for overdue payments.
 
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