Mortgage forbearance allows homeowners facing financial hardship to put their payments on pause for a set period of time. Here’s what you should know about mortgage forbearance, in case you need to weather a future financial crisis. What Is Mortgage Forbearance? Mortgage forbearance is when a lender allows a borrower to temporarily stop making payments. When you’re approved for a …

The term “annual percentage rate” is commonly used for lending products such as mortgages, credit cards and personal loans. The APR for a personal loan is the combined total of the interest rate plus the origination fee, calculated on a yearly basis and expressed as a percentage. If there are no fees, the APR equals the interest rate. How does …