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TimeValue Software Blog

Forbearance and Restructuring Loans

By Martel Pellerin

Forbearance is a hot term in finance today. Forbearance is an agreement where the lender delays its right to exercise foreclosure if the borrower can either catch up to its payment schedule by a certain time or agree to extend the term of the loan. The key for the borrower is to get some relief due to financial difficulties. The key to the lender is to keep their customer in the property, give them some relief, and keep their yield on the loan. How this is done can make a significant impact on either party.

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Bi-Weekly vs Half Month Mortgage Payments

By Martel Pellerin

Occasionally a customer asks whether making half monthly payments instead of monthly payments will pay off their mortgage quicker.  The answer is no.   Let’s assume a 30-year loan. You will only save part of one month’s interest over the 30 years so it is probably not worth it and this is assuming that your bank will process your partial half month payments timely.

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