Forbearance is a process that allows a lender to legally repossess and auction off the property securing a loan.

Question

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Forbearance is actually a process that allows a borrower to temporarily suspend or reduce their loan payments in times of financial hardship, while still retaining ownership of the property securing the loan. It is not a process that leads to repossession and auctioning off of the property by the lender.

Forbearance Is a Process That Allows a Lender to Legally