There are different types of mortgage forbearance for homeowners to choose from, based on the mortgage loan they have, the requirements and conditions in their mortgage loan and their mortgage loan servicer or lender.
The two main types of mortgage forbearance are:
Paused payment: All your monthly mortgage payments are temporarily paused. During this time, interest will accrue on your missed payments.  Mortgage payment reduction: The lender temporarily reduces your monthly mortgage payments. For example, if your mortgage is $3,000 a month, your lender may grant you a 6-month forbearance with a reduced payment of $1,500. During this time, interest will accrue on the outstanding balance of your reduced payments.