The temporary postponement or reduction of loan payments granted by a lender to a borrower experiencing financial hardship. This agreement allows the borrower time to recover financially without immediately facing foreclosure or default proceedings.
From Old French 'forbearance' meaning 'patience' or 'restraint,' derived from 'forbear' (to refrain from). The root combines 'for-' (away) and 'bear' (to carry). The financial sense developed as lenders began formalizing temporary payment relief arrangements in the 19th century.
Forbearance is essentially a lender saying 'we'll be patient with you' - but it's not forgiveness! The debt typically doesn't disappear; it just gets restructured or delayed, often with additional interest accruing during the forbearance period.
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