Forbearance Agreement Template. Forbearance.subject to the terms of section 5 hereof, the terms of the subordination agreement (as defined below), and borrower’s satisfaction of all of borrower’s obligations under the loan documents contemporaneously with the closing of the sale contemplated in the purchase agreement, lender hereby irrevocably waives any default or event of default that. Transfer of this agreement or any right or interest therein until approved in writing by xyz, which approval will not be unreasonably withheld.
In this agreement, the lender agrees not to foreclose on the mortgage, while the delinquent borrower agrees to a revised mortgage plan that will bring them current on the owed payments. A mortgage forbearance agreement will. This agreement shall not be modified except in writing executed by xyz and participant.