Legal Question in Credit and Debt Law in Massachusetts
What is a Forebearance Agreement?
My friend tried to work with the national organization: Acorn to get his mortgage with Wachovia modified. The request was denied and in the same envelope he got something called a Forbearance Agreement.
It appears to say: If he pays $13,000 to Wachovia within 3 months then Wachovia promises not to make more collection calls then they are required to make by law.
Asked on 8/31/09, 9:52 pm
1 Answer from Attorneys
henry lebensbaum
Law Offices of Henry Lebensbaum (978-749-3606)
It is a note that promises not to act.
However, this promise may be worthless in the grand scheme, and is there to induce you to send money.
Have the problem, and the agreement reviewed by an ATTORNEY.
If you need help, contact me.
Answered on 9/06/09, 9:11 pm
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