A forbearance agreement is needed when a borrower goes into default on their mortgage loan and the bank or lending institution is willing to postpone taking action. A forbearance gives the borrower time to try and get things straight and get back on track with their loan payments. A forbearance is not a long term solution for delinquent borrowers but is designed for borrowers with temporary
. financial issues. Communication with your lender is key when you fall behind and are having payment issues; they are more likely to work with you if you let them know what is going on instead of avoiding their calls or letters. Visit http://www.ehow.com/how_2080498_negotiate-forbearance-agreement-lender.html for some helpful information on forbearance.
