Loan Forbearance vs. Deferment: What's the Difference?
Are you facing hardship and worried about making monthly mortgage payments? Fortunately, homeowners have options to get some assistance in hard times. For example, during the financial crisis that began in 2020 as a result of the COVID-19 pandemic, the US government introduced a series of measures to bolster forbearance and deferment options. In times like these, forbearance and deferment are two options you may be able to take advantage of to temporarily postpone your mortgage payments.