special forbearance

Definition of "special forbearance"
  1. A method to ease financial distress wherein a lender modifies the repayment terms, potentially reducing or suspending monthly loan payments temporarily
How to use "special forbearance" in a sentence
  1. With special forbearance, struggling homeowners can pause their mortgage payments during financial hardship.
  2. The bank offered special forbearance to borrowers impacted by the economic downturn.
  3. Through special forbearance, loan payments were temporarily suspended due to his unexpected medical expenses.

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