CMIC [Internet]; Aug 9, 2016 [cited 2016 Aug 9]. Available from: http://www.allacronyms.com/CMIC. 'CMIC', All Acronyms, 9 August 2016, <http://www.allacronyms.com/CMIC> [accessed 9 August 2016] All Acronyms, CMIC (Aug. 9, 2016, 2:08 AM), available at http://www.allacronyms.com/CMIC.
Defeasance is a substitution of collateral. The borrower uses proceeds from a refinance or sale to purchase a portfolio of securities that is sufficient to make the remaining debt service payments required by the loan. The securities are pledged to the lender who releases the real estate from the lien of the mortgage.
The basic dictionary definition of forbearance is refraining from the enforcement of something.. Refraining from the enforcement of something could be a debt, a right we have, an obligation that has come due and needs to be paid, etc.This is a legal-sounding definition.The idea of forbearance arises in the Bible under different words.t is controlling oneself when provoked or offended. Its synonyms show us some of the nuances of forbearance : patience, leniency.. Leniency does not mean that one allows something to continue. A more strict definition is that one does not give the full punishment for something or the full amount of something.