09/01/2026
These terms are often used interchangeably—but they are NOT the same!
🏠 FORBEARANCE
Temporarily pauses or reduces your mortgage payments during a hardship. The missed payments are not forgiven, and you’ll need an approved plan for addressing them afterward.
🏠 PARTIAL CLAIM
When available, past-due payments may be moved into a separate, typically interest-free subordinate lien. You resume your regular mortgage payment, but the deferred balance is generally repaid when you sell, refinance, transfer the property or pay off the mortgage.
🏠 LOAN MODIFICATION
Permanently changes the terms of your existing mortgage. This may include extending the loan, changing the interest rate or adding missed payments to the balance to make the monthly payment more affordable.
Each option has different qualifications and long-term consequences. What’s right for one homeowner may not be right—or available—for another.
If your mortgage-relief option still leaves you with an unaffordable payment, a short sale may be another way to avoid foreclosure.
Call STL Short Sales at 636-431-6874 to learn more. 🩷