If a lender agrees to new loan terms in an attempt to help a homeowner,and the terms of the new agreement are met,this constitutes a:

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A reinstatement is when the borrower brings their delinquent loan current by paying the past-due payments plus any associated fees. If a lender agrees to new loan terms and the borrower successfully meets those terms, it essentially brings the loan current and reinstates it to good standing. Foreclosure is the legal process by which a lender takes possession of a property due to non-payment. Forbearance is when a lender temporarily suspends or reduces loan payments for a period of time due to financial hardship. Cramdown is a bankruptcy process where a court can reduce the amount owed on a loan to the current market value of the property.

If a Lender Agrees to New Loan Terms in an Attempt