FORBEARANCE Meaning and
Definition
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Forbearance is a noun that refers to the act of restraining oneself from doing something that one has a right or desire to do. It is the quality of showing patience, tolerance, and self-control, particularly in difficult or challenging situations. Forbearance often involves the ability to endure or overlook someone else's faults, mistakes, or offensive behavior. It is an act of refraining from asserting one's rights, seeking revenge, or taking action against something or someone.
In the context of finance and loans, forbearance is also a term used to describe a formal agreement between a lender and borrower. This agreement allows the borrower to temporarily suspend or reduce their loan payments due to financial hardships or unforeseen circumstances. Forbearance is often considered a compassionate measure taken by creditors to work with borrowers during times of financial stress, with the goal of preventing defaults or foreclosures on loans.
Forbearance can also be seen as a moral and ethical value, as it encourages individuals to exercise patience and understanding towards others, promoting peaceful coexistence and empathy. It is an important characteristic in interpersonal relationships, as it fosters a sense of forgiveness and goodwill, leading to harmonious interactions. Overall, forbearance encompasses the virtues of patience, self-restraint, and compassion, and is highly valued in various aspects of life, including personal relationships, professional settings, and financial matters.
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Lenity: restraint of temper; exercise of patience.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
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Etymology of FORBEARANCE
The word "forbearance" originated from the combination of two Old English words: "forberan" (to endure, abstain) and "bearu" (a pledge). The term evolved from the concept of voluntarily refraining from taking action against someone or repaying a debt, showing patience, or exercising self-control. The modern meaning of "forbearance" still retains its original sense of patiently restraining oneself from taking action or seeking repayment.
Similar spelling words for FORBEARANCE
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