Forbearance
What is Forbearance?
Forbearance is a relief option for borrowers experiencing a short-term or long-term hardship. There are different types of forbearance plans available depending on the borrower’s hardship.
All forbearance plans consist of a written agreement that allows the borrower to skip or reduce their monthly mortgage payment for a specified period of time.
| Forbearance plans | Standard Forbearance | Disaster Forbearance | COVID-19 Forbearance |
|---|---|---|---|
| Occupancy Type | Primary residence | All occupancy types | All occupancy types |
| Length of Forbearance Period | Up to 12 months delinquency | Up to 12 months | Up to 12 months. Extensions in up to a total of 18 months are available for borrowers who were on a COVID-19 forbearance plan before March 1, 2021 and have not resolved their hardship. |
| Delinquency Requirements | Total delinquency may not exceed 12 months | Total delinquency may not exceed 12 months | Maximum term of 18 months or maximum delinquency of 18 months, whichever is shorter |
| Borrower Contact Requirements | QRPC required | Servicer has the option to grant 90-day non-QRPC forbearance if loan in eligible disaster area AND becomes delinquent after disaster. | QRPC required |