The fee is calculated on the basis of the remaining outstanding principal balance of the loan prior to applying the current payment. (goodfinancialcents.com)
You need to make 120 qualified loan payments in order to have the remaining balance of your loan forgiven. (credible.com)
If they are unable to recover at least the outstanding balance of the loan through resale, you will be on the hook for the difference. (law.stackexchange.com)