Forbearance is when the lender agrees to let the borrower catch up on mortgage payments for a several-months long period. This agreement is stipulated in writing, after a financial application is filled out.

There are a few things the homeowner must show for a forbearance to commence:

The homeowner is careful to keep the commitment, or face foreclosure.
The cause of the default is specific, yet temporary, and cannot be resolved in a short amount of time.
The homeowner demonstrates strong desire to retain property ownership.
There is evidence that with adequate time the borrower should be able to resume making full monthly payments, with excess funds to pay off the past due balance.