What does forborne services mean?

Forborne services refer to financial services or obligations that a lender has temporarily suspended or modified due to the borrower's inability to meet payment requirements, often during economic hardship. This can include measures such as payment deferrals, interest rate reductions, or restructuring of loan terms. The aim is to provide relief to borrowers while minimizing losses for lenders. Forborne services are typically documented and monitored to ensure compliance and evaluate the borrower's financial recovery.