Results for forbearance
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Dictionary:

forbearance

  (fôr-bâr'əns) pronunciation
n.
  1. The act of forbearing.
  2. Tolerance and restraint in the face of provocation; patience. See synonyms at patience.
  3. The quality of being forbearing.
  4. Law. The act of a creditor who refrains from enforcing a debt when it falls due.

 
 

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

Investopedia Says:
Basically, forbearance allows the borrower to put a temporary hold on his or her monthly payments, usually for up to one year. Forbearance is common for unemployed people with outstanding student loans.

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Banking Dictionary: Forbearance

1. Lender's decision not to exercise a legally enforceable right against a borrower in default, in exchange for a promise to make regular payments in the future. For example, a mortgage lender will agree not to initiate foreclosure proceedings against a mortgagor whose loan is in arrears.

2. Temporary relief granted a bank by a regulatory agency from compliance with minimum capital requirements or other banking regulations, extended to financial institutions in economically depressed areas. Banks given capital forbearance must file a plan to restore their capital base within a specified period.

 

A policy of restraint in taking legal action to remedy a Default or other breach of contract, generally in the hope that the default will be cured, given additional time.Example: Because of a slowdown in the local economy, loan delinquencies increased dramatically at First Savings. Considering that most of the borrowers were long-term customers of the bank and had always honored their commitments, First Savings adopted a policy of forbearance in dealing with overdue payments. Every effort would be made to avoid foreclosure and give the borrowers time to bring the loans up to date.

 
Thesaurus: forbearance

noun

  1. The capacity of enduring hardship or inconvenience without complaint: long-suffering, patience, resignation, tolerance. See accept/reject.
  2. Forbearing or lenient treatment: charitableness, charity, indulgence, lenience, leniency, lenity, tolerance, toleration. See accept/reject.

 
Antonyms: forbearance

n

Definition: resisting, avoidance
Antonyms: continuation, impatience, indulgence, involvement, pursual, use


 
Law Encyclopedia: Forbearance
This entry contains information applicable to United States law only.

Refraining from doing something that one has a legal right to do. Giving of further time for repayment of an obligation or agreement; not to enforce claim at its due date. A delay in enforcing a legal right. Act by which creditor waits for payment of debt due by a debtor after it becomes due.

Within usury law, the contractual obligation of a lender or creditor to refrain, during a given period of time, from requiring the borrower or debtor to repay the loan or debt then due and payable.

 
Word Tutor: forbearance
pronunciation

IN BRIEF: Willingness to wait.

pronunciation There is, however, a limit at which forbearance ceases to be a virtue. — Edmund Burke (1729-1797).

 
 

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Copyrights:

Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2007. Published by Houghton Mifflin Company. All rights reserved.  Read more
Investment Dictionary. Copyright ©2000, Investopedia.com - Owned and Operated by Investopedia Inc. All rights reserved.  Read more
Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
Thesaurus. Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary Copyright © 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.  Read more
Answers Corporation Antonyms. © 1999-2008 by Answers Corporation. All rights reserved.  Read more
Law Encyclopedia. West's Encyclopedia of American Law. Copyright © 1998 by The Gale Group, Inc. All rights reserved.  Read more
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