Forborne definitions
| Word backwards | enrobrof |
|---|---|
| Part of speech | Forborne is a verb. |
| Syllabic division | for-borne |
| Plural | The plural of the word "forborne" is forborne. |
| Total letters | 8 |
| Vogais (2) | o,e |
| Consonants (4) | f,r,b,n |
The concept of forborne refers to something that has been set aside or postponed for a later time. This term is often used in the context of financial matters, such as loans or debt repayments.
When a borrower is unable to make their scheduled loan payments, the lender may choose to offer them a forborne arrangement. This means that the lender agrees to temporarily lower or suspend the borrower's payments until they are able to resume making full payments.
Forborne Agreements in Financial Institutions
In the banking industry, forborne agreements are common when borrowers experience financial hardship, such as losing a job or facing unexpected medical expenses. Rather than immediately defaulting on the loan, the borrower and lender can work together to come up with a forborne plan that allows the borrower some relief while still meeting their obligations in the long run.
Key Considerations for Forborne Arrangements
It is essential for both borrowers and lenders to carefully consider the terms of any forborne agreement. Borrowers should understand that forborne payments are typically not forgiven but rather postponed to a later date. This means that interest may continue to accrue during the forborne period, potentially increasing the total amount owed.
Lenders, on the other hand, need to assess the borrower's financial situation carefully before agreeing to a forborne arrangement. If the borrower is unlikely to be able to resume full payments in the future, it may be more beneficial for the lender to explore other options, such as loan modification or restructuring.
Forborne Examples
- He forborne from eating dessert to stick to his diet.
- The teacher forborne from scolding the student in front of the class.
- She forborne from speaking out of turn during the meeting.
- The athlete forborne from using performance-enhancing drugs.
- He forborne from retaliating against his coworker's rude comments.
- The politicians forborne from making personal attacks during the debate.
- She forborne from interrupting her friend while they were talking.
- The company forborne from releasing the new product until it was fully tested.
- He forborne from taking shortcuts and followed the instructions carefully.
- The team forborne from celebrating until the final results were announced.