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What is a Loan Forbearance approval agreement?

April 26, 2017Agreement Approval forbearance loan

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What is a Loan Forbearance approval agreement?

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This is an agreement that you make, by contract, with your lender stating that you will keep current on the mortgage for all future payments. There is also a plan to make up the unpaid interest and fees, such as late fees. Often times these amounts are added to the loan amount to be paid later.