Finance
A South Carolina borrower who falls behind on mortgage payments and works with the lender to temporarily reduce or suspend payments is using which loss mitigation option?
AShort sale
BForbearance agreement✓ Correct
CDeed in lieu of foreclosure
DLoan modification
Explanation
A forbearance agreement temporarily reduces or suspends mortgage payments for a specified period for borrowers facing short-term financial hardship. Payments are typically made up after the forbearance period ends.
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