A borrower has fallen behind, and you'd rather work it out than foreclose or accelerate? PaperKit drafts a proper Forbearance Agreement: the lender agrees to temporarily hold off on its remedies for a set forbearance period, in exchange for the borrower's acknowledgment of the debt and the default and a plan to get current. Pick the workout: a standstill (the lender simply holds off while a longer-term fix is worked out), a cure plan (the borrower catches up the arrears over the period — PaperKit computes the monthly catch-up installment), or a paydown (a lump-sum paydown up front plus modified payments, with the remaining balance computed for you). Choose the context — a commercial loan, a real-estate/mortgage workout, or equipment financing — set the outstanding balance, the arrears and the period, and PaperKit adds acknowledgment-and-reaffirmation, forbearance-default reactivation, no-waiver/reservation-of-rights and a borrower release, then assembles the whole agreement. Hosted online for the borrower to review & e-sign. Clean PDF.
The big lever — it decides what the borrower must do during the forbearance, and which payment section & math appear.
Cure plan: the borrower cures the arrears over the forbearance period on a catch-up schedule, on top of the regular payments. PaperKit computes the monthly catch-up installment = arrears ÷ period months, and adds a Cure Plan & Catch-Up Schedule section.
Tunes the recitals, the remedy/collateral wording and the document title.
A real, section-by-section forbearance agreement. The workout choice drives what the borrower must do and which sections appear. Publish to get a hosted link the borrower can e-accept online.
$9/mo — remove the DRAFT watermark + “Made with PaperKit” badge, unlimited clean-PDF forbearance agreements, and Pro across every tool.
A forbearance agreement is a template for convenience, not legal advice. A forbearance is a temporary agreement not to enforce remedies; it does not cure or waive the underlying default, and the underlying loan and security documents, guaranties, UCC filings, mortgage recordings and applicable state law continue to govern enforceability. PaperKit is not a law firm. Review the agreement and consult a qualified attorney.