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What to Do After Receiving a Forbearance


A mortgage forbearance is when your lender allows you to temporarily reduce your monthly mortgage payment or put a temporary pause on paying your mortgage. Forbearance does not mean you no longer owe that money. You will still be responsible for repaying the reduced payments or any missed payments once the forbearance period ends.

If you receive a forbearance for your mortgage, it’s important to know what will be expected of you so you can stay on top of payments and make any necessary adjustments as needed so you don’t end up falling behind or facing penalties.

What to do when you receive a forbearance

When you receive mortgage relief, you should take some important steps to manage your situation so you’re in a stronger position when the forbearance period ends. Here are some actions to take:

  • Adjust your auto-payments on your loan – If your mortgage loan is set to auto-pay, take action to make any adjustments to the payment so you’re abiding by the terms of your forbearance period.
  • Watch for errors in your statement and credit – Pay attention to your monthly mortgage statements to ensure that no errors are made. You’ll also want to regularly check your credit report for any errors or inaccuracies.
  • Confirm ongoing payment of property taxes and insurance – If your mortgage has an escrow account, your lender should continue to pay your insurance and taxes, but it’s a good idea to confirm. If there is no escrow, you should be managing these payments yourself.
  • Make a plan for when forbearance ends – Before your reach the end of your forbearance period, you should begin making plans for how you want to repay your missed payments or consider your other options, like seeking a loan modification.

Forbearance can be a good way to manage your mortgage responsibility during a difficult period. But because forbearance will vary among different agencies and entities, it’s important to do your homework and make sure you understand just what your specific arrangement entails.

For legal guidance and advice when it comes to forbearance, foreclosure defense, and other consumer protection rights, we are here to help. Contact us at Jacobs Legal today.

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