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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Forebearance Agreement Posted by Ward-CA- on February 16, 2004 at 10:52 PM In Reply to: Forebearance Agreement posted by Rob-Ca on February 16, 2004 at 2:32 PM : I have been working with a lady to setup an EPA. She now says see has a Forbearance Agreement with the bank. Is this just another temporary stall tactic or how does this work? : Also on another note, when doing title work, how can you tell that a loan has been subordinated? : Thanks, : Rob ================ Rob, A Forebearance Agreement is a formal agreement between a defaulted borrower and lender wherein the lender agrees, for a fee, to temporarily stop the forward progress of their foreclosure. It can buy the borrower some valuable time to solve their foreclosure, or it can often just delay the foreclosure for a while, to no avail of the borrower. If a senior lien has subordinated its priority to a junior lien on a particular property it will be noted in a recorded Subordination Agreement between the two lienors and the property owner. See the Foreclosure Glossary by clicking on the link below. Foreclosure Glossary Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I have been working with a lady to setup an EPA. She now says see has a Forbearance Agreement with the bank. Is this just another temporary stall tactic or how does this work? : : Also on another note, when doing title work, how can you tell that a loan has been subordinated? : : Thanks, : : Rob : ================ : Rob, : A Forebearance Agreement is a formal agreement between a defaulted borrower and lender wherein the lender agrees, for a fee, to temporarily stop the forward progress of their foreclosure. : It can buy the borrower some valuable time to solve their foreclosure, or it can often just delay the foreclosure for a while, to no avail of the borrower. : If a senior lien has subordinated its priority to a junior lien on a particular property it will be noted in a recorded Subordination Agreement between the two lienors and the property owner. : See the Foreclosure Glossary by clicking on the link below. 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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