Some Helpful Definitions
Forbearance
If you're facing foreclosure due to not having made satisfactory payments on your mortgage, then being granted a Forbearance may be an available option.
You can request forbearance from your lending institution. This amounts to extending your loan by adding payments to the end of the term, equal to the number of missed payments on the loan.
Forbearance:
A postponement of loan payments, granted by a lender or creditor, for a temporary period of time. This is done to give the borrower time to make up for overdue payments.
Notes:
Basically, forbearance allows the borrower to put a temporary hold on his or her monthly payments, usually for up to one year. Forbearance is common for unemployed people with outstanding student loans. It is not so common for real estate mortgages, but is still a known process in the industry.