Often, the person owing money can refinance some of what he owes and do
the rest on a payment plan.
Not exact matches
set up a
payment plan which is practical based
on your circumstances and which covers the
rest of the term of your mortgage, where appropriate;
Keep an eye
on how many qualified
payments will be required in order to get the
rest of your loan balance forgiven, when selecting the
plan of your choice.
Depending
on the
plan you choose, after 20 - 25 years of
payments, the
rest of the balance will be forgiven.
The only other thing I would say is just, you know, diversify your investments; don't put it all towards your home down
payment, think about your future and what you
plan on doing with the
rest of your life.
I was already
on the extended graduated repayment
plan and looked into income based repayment; since it didn't account for the
rest of my debt it would have increased my
payments.
Work full time for the government or a qualifying non-profit for ten years and make 120 consecutive
payments on a qualifying
plan, and the
rest of your federal loans are wiped out.
Typically, a portion of the mortgage insurance premium (depending
on the premium
plan chosen) is paid up front at closing, and the
rest is paid as part of the monthly mortgage
payment.