If you are in a short-term economic bind, you may possibly be eligible for a deferment or perhaps a forbearance. With either of the choices, you are able to temporarily suspend your repayments.
In terms of deferment and forbearance, however, there are two main considerations to start thinking about:
- More often than not, interest will accrue through your period of forbearance or deferment. This implies your balance will increase and you will pay more throughout the lifetime of your loan. Continue reading Get Short Term Relief