Fundamentals of Forbearance Agreements
1 hour 30 minutes
Understand the critical actions and legal issues that a lender should consider when entering into a forbearance agreement.
Oftentimes, borrowers encounter a temporary hardship that prevents them from making mortgage payments on a timely basis. When contacted by this borrower for assistance, a forbearance agreement may be the solution to their problem. This live webinar will provide insight to the person negotiating or drafting forbearance agreements on behalf of creditors as to what provisions should be included in forbearance agreements. This material is critical for creditors that want to avoid loss of priority, statute of limitations issues, and litigation; if the borrowers default after executing the forbearance agreement.
• You will be able to define and distinguish between a loan modification and a forbearance agreement.
• You will be able to discuss when a forbearance agreement should be entered into prior to a loan modification.
• You will be able to explain the procedures required to proceed with foreclosure after a default under a forbearance agreement.
• You will be able to review forbearance agreements to ensure they provide essential clauses.