A Forbearance Plan
To Avoid Foreclosure
The best way to keep your Mesquite TX house when a homeowner has a temporary financial hardship is a forbearance plan.
A forbearance plan is an agreement made between a lender and the houseowner where the lender allows the houseowner to miss a couple of payments (or forgives a couple of already missed payments) and then requires the houseowner to make up the payments later – in most cases by making payment-and-a-half payments for several months in a row after the missed payments. The re-payment plan can be structured in several ways.