Forbearance:
Pause Payments, Buy Time, and Protect Your Options
If you’re behind on payments, a forbearance agreement can stop the foreclosure clock and give you breathing room to rebuild. Learn how it works and how to request one—fast.
CONTACT US TODAY! (470) 516-2603
What Is Forbearance?
Forbearance is a temporary agreement between you and your mortgage servicer that pauses or reduces your mortgage payments for a set period because of financial hardship. It does not erase the missed payments — it gives you time to recover so you can pursue a long-term solution.
Key points:
Temporarily reduces or suspends monthly payments.
Agreed to in writing with your loan servicer (bank).
Buying time — not forgiveness (unless later negotiated).
Common for short-term hardships: job loss, illness, temporary income drop.
Who Qualifies for Forbearance?
You may qualify if you can show a temporary financial hardship such as:
Recent job loss or reduced hours
Medical bills or unexpected medical emergency
Natural disaster or temporary loss of income
Temporary disability or family emergency
Note: Qualification rules differ by servicer and loan type (Fannie Mae / Freddie Mac / FHA / VA / private lender). We can review your loan type and quickly tell you if forbearance is likely.
How Forbearance Helps During Preforeclosure
When you’re in preforeclosure, timing is everything. Forbearance can help in several practical ways:
- Stops or delays foreclosure activity while the forbearance is in effect.
- Gives you time to reorganize finances, find new income, or pursue permanent solutions (loan modification, repayment plan, short sale).
- Reduces immediate stress and prevents a rushed, last-minute sale at auction.
- Preserves options: you can use the pause to explore loan modification, refinancing, selling, or deed-in-lieu.
Step-by-Step: How to Request Forbearance (What to Do Now)
Follow these steps as soon as possible — every day counts when you’re in preforeclosure.
1. Gather Basic Documents
Most recent mortgage statement
Hardship documentation (termination/layoff letter, medical bills, unemployment claim, bank statements)
Proof of income (paystubs or unemployment benefits)
ID and property address
2. Call your loan servicer immediately
Use the phone number on your mortgage statement.
Ask for the “loss mitigation” or “foreclosure prevention” department.
3. Explain your hardship, ask for forbearance
Be honest and brief. Tell them what changed and for how long you expect the hardship to last.
4. Send a written hardship letter (sample below) and any required documents by email or upload portal.
5. Get the agreement in writing
Confirm length of forbearance, payment terms after the pause, and the exact date when normal payments resume or how missed payments will be handled.
6. Follow up & document everything
Save emails, names, reference numbers, and the forbearance agreement.
If servicer delays or denies, we can intervene or explore alternatives.
We are not attorneys. This page provides educational information and is not legal advice. For legal counsel regarding foreclosure or bankruptcy, consult a Georgia-licensed attorney. For urgent auction dates, call us immediately.
Ready to see if forbearance can stop your foreclosure?
Submit your details and a Property Jet specialist will review your mortgage type and hardship and tell you the quickest, realistic path forward — often within the same day.
CONTACT US TODAY! (470) 516-2603
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