Quick comparison
| Option | Main purpose | Important caution |
|---|---|---|
| Forbearance | Temporarily pause or reduce payments during short-term hardship. | Payments are usually not erased; they must be handled later. |
| Loan modification | Adjust loan terms to create a more sustainable payment after hardship review. | Approval is not automatic and documentation is usually required. |
Forbearance may make sense when
- Your hardship is temporary.
- You expect income to recover.
- You need short-term breathing room.
- You understand what happens when forbearance ends.
Loan modification may make sense when
- The affordability problem is longer term.
- You cannot catch up quickly.
- You may not qualify for refinance.
- You need the servicer to evaluate a sustainable plan.
Urgent: If foreclosure notices or legal deadlines are involved, contact your servicer and consider qualified housing or legal help quickly. This page is educational only.
Before choosing, ask
- Will payments be deferred, repaid monthly, or due in a lump sum?
- How will this be reported to credit bureaus?
- Can I apply for modification after forbearance?
- What paperwork is required?
- What are the deadlines?
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Start free checkEducational information only. MortgageStressScore.com is not a lender, mortgage broker, law firm, financial advisor, foreclosure prevention company, or housing counseling agency.