Sentences with phrase «balance of the lump sum payment»

Not exact matches

There is no upfront cost to this type of PMI, and no waiting period to cancel it via a refinance or lump - sum payment to your principal loan balance.

«I never hid from it, I never avoided working with the IRS to work this out... I've reduced it through monthly payments and at end of the year I made four lump sum payments to bring that balance to zero.»

Another option is to add the PMI premium in a lump sum to your mortgage balance and to repay it as part of your monthly mortgage payment.

If you apply a lump sum toward your principal balance, you may qualify to reduce your future monthly principal and interest payments for the remainder of your loan's original term without the expense of refinancing.

The following features are prohibited from high - fee, high - rates loans: 1) All balloon payments - where the normal payments do not pay off the principal balance in full and a lump sum payment of more than twice the amount of the normal payments is required - for loans with less than 5 yr.

After the short term expires, the remainder of the balance is due in one lump sum or «balloon payment».

This new home loan pays off your current mortgage balance and lets you access the equity in your home in the form of a lump - sum cash payment at closing.

If you have defaulted, the government allows a collection agency to accept a lump - sum payment under three conditions: A) You pay the balance of the loan and interest, but not the collection agency charge; B) You pay the principal plus half the unpaid interest; or C) You pay 90 % of the remaining principal and interest.

If they agree, you make the lump - sum payment and the creditor writes off the rest of the balance.

Instead of an interest payment of $ 16,600, you have a lump sum amount of $ 15,247 to apply toward your loan balance, lowering the balance to $ 34,000 and some change and a total interest of $ 11,547.

Balloon Mortgage Loan Payments on a balloon mortgage loan do not cover its fully amortized amount each period and at the end of the loan term, the unpaid balance must be repaid in a lump sum.

In other words, you need to have enough equity that a reverse mortgage will leave you with a reasonable lump - sum monthly payment or line of credit after paying off your existing mortgage balance, if you have one.

In a debt settlement, the lender agrees to accept less than the full balance of a debt in return for a lump - sum payment from the consumer.

When you sign up for our credit card payment insurance, you'll receive a lump - sum payment of up to $ 25,000 on your outstanding balance in the event of death, depending on the plan you choose.

The three most common prepayment options are: adjust the frequency at which the payments are made (weekly, semi-monthly, bi-weekly, monthly and accelerated), increase the monthly payment amount (there is a maximum monthly percentage) and lump sum (or balloon, also a maximum percentage of the original mortgage balance) payment.

the member's account balance is no longer seen as supporting a TRIS and t any payments made during the year (not just the amount in excess of the limit) will be super lump sums for income tax purposes and lump sums for SIS Regulations purposes

Examples of prepayment: increasing the amount of your regular mortgage payments making lump - sum payments to reduce your mortgage balance paying off your mortgage in part or in full before your term is over.

This type of loan provides a lump sum of money up - front and the loan balance is paid back monthly, with a fixed payment amount and a fixed interest rate.

A debt settlement for less than the full balance owed gives a debt collection company the opportunity to collect a lump sum payment in one big payment, and creditors often don't turn down a lump sum chunk of cash!

If you have a lump sum that is less than the full balance you owe on your debts, you can ask your creditors to accept the payment and write off the rest of the debts.

With my lender, after my mortgage anniversary (the date I signed up for the mortgage), each year I could increase my payment by 15 %, double up my payments and make lump - sum payments totalling 15 % of my original mortgage balance.

Cash - In: Instead of a cash - out, you pay a lump sum at the start of a new mortgage, lowering both the balance and the monthly payment afterward.

In the event of death, diagnosis of an insured critical illness or an accidental dismemberment / paraplegia, a lump sum payment will be made based on your outstanding account balance up to a maximum of $ 25,000.

Balloon payment: One large lump sum that covers the balance due and that a borrower pays at the close of a balloon mortgage.

A mortgage customer who already has their loan closed and is currently being serviced can often elect to apply a lump sum of money against their existing principal balance and, rather than simply reducing what they owe on the loan, they end up with a reduced monthly payment.

If you're facing a legitimate financial hardship and can't make the minimum payments on your Bank of America (or FIA Card Services) credit card account then one potential solution is to negotiate a lump - sum settlement for less the balance owed.

Different treatment arises for the purposes of your transfer balance account depending on whether, under the payment split, the non-member spouse is entitled to either a lump sum amount or a percentage of the member spouse's superannuation income stream benefits payable from the superannuation income stream.

Debt settlement involves offering a lump - sum payment to receive forgiveness of your outstanding credit card balances.

Filing a bankruptcy can save both of these assets by allowing you to catch up the past due payments over 60 months rather than trying to pay the entire past due balance in one lump sum payment.

Example: if your balance at the end of the year is $ 100,000, the maximum lump sum payment for that year would be $ 20,000.

Note: Most closed mortgage products allow a once - per - year lump sum payment of up to 20 % of the remaining principal amount or balance.

A balance transfer card allows you to pay down debt gradually without a lump sum coming due in a matter of weeks, and making timely monthly payments is a great way to rebuild your credit.

Interest was to accrue on any late payments and the entirety of the remaining balance of the lump sum outstanding was to fall due in the event of any payment becoming more than 14 days overdue.

You can often negotiate the balance — seriously, offering a lump sum upfront helps — and, if you can't, well, at least see if the provider will agree to a payment plan in lieu of selling the debt to a collector.

Another form is the option to use the cash value of the policy to prepay the remaining balance of premiums due in a lump sum payment.

With my lender, after my mortgage anniversary (the date I signed up for the mortgage), each year I could increase my payment by 15 %, double up my payments and make lump - sum payments totalling 15 % of my original mortgage balance.

Recasting happens when you pay down a substantial amount of your loan balance (sometimes with a large lump - sum, and sometimes with regular extra payments) and you change your existing loan.