If you are facing a temporary hardship, your lender may offer you a deferment. A deferment is a postponement of your home loan payments for a set period of time. This does not release you from having to pay interest on those amounts, but you can defer or postpone having to make those payments for an agreed-upon number of months as temporary relief during a hardship period. After that period is over, your lender will work with you to develop a repayment plan that allows you to make your regularly scheduled mortgage payments plus pay off these deferred payments over time.

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