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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: default after forbearance Posted by Ward-CA- on October 26, 2001 at 9:36 PM In Reply to: default after forbearance posted by todd-wa on October 26, 2001 at 11:12 AM : Would you clarify what happens when a debtor gets a forbearance. How does the trustee usually give notice of sale if after a few months the debtor doesn't pay. Thanks Ward. =•=•=•=•=•=•=•=•=•=•=•= Todd, a forbearance is a formal, written agreement between a defaulting borrower and their lender to temporarily stop a foreclosure. There often is a non-creditable fee charged by a lender to temporarily postpone the progress of their foreclosure action. If a debtor subsequently fails to perform under a forbearance agreement all the creditor would do is to send the debtor actual notice of the resumption of the foreclosure, due to the debtor’s failure to perform. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Would you clarify what happens when a debtor gets a forbearance. How does the trustee usually give notice of sale if after a few months the debtor doesn't pay. Thanks Ward. : =•=•=•=•=•=•=•=•=•=•=•= : Todd, a forbearance is a formal, written agreement between a defaulting borrower and their lender to temporarily stop a foreclosure. There often is a non-creditable fee charged by a lender to temporarily postpone the progress of their foreclosure action. : If a debtor subsequently fails to perform under a forbearance agreement all the creditor would do is to send the debtor actual notice of the resumption of the foreclosure, due to the debtor’s failure to perform. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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