Sentence examples for required monthly payment from inspiring English sources

And the required monthly payment was more than they could possibly have afforded.

One of these plans, called Income-Based Repayment, caps the required monthly payment at an affordable amount based on the borrower's earnings and family size.

"It is especially appealing to borrowers who anticipate that their income will increase over a short period of time," Mr. Javitz said, adding that by charging only interest for the first 10 years of the loan, the required monthly payment for that period of time can be reduced by up to 25percentt.

But the study also offered some hope, in that it found that increasing the minimum required monthly payment on credit cards spurs borrowers to not only meet the minimum, but to pay off substantially more, possibly eliminating their debt years earlier.

This means that you must still make your required monthly payment on or by the due date each month".

For example, consider the borrower of 70 with a home worth $600,000 and an existing mortgage balance of $200,000 who is looking to pay off that balance in order to rid himself of the required monthly payment.

Another woman learned too late that her $45,000 loan required monthly payments of $500 for 15 years -- $90,000 total -- yet left her owing a balloon payment of $41,000.

"And we have to take that repayment schedule into account when we're determining whether you have the ability to make the required monthly payments on the mortgage".

The authority is negotiating with Titan over its inability to make its required monthly payments, and neither side would give details of the talks.

A Marc Eisenson of Elizaville, N.Y., who maintains the Internet site investinyourself.com, which provides financial advice to consumers, said that while it might seem as though the required monthly payments should be lower if extra payments against principal are being made, that is not the way a self-amortizing mortgage works.

"We had the no-documentation loans, the option-ARM loans and all the others," he said, referring to loans made to borrowers who did not provide evidence of income or assets, and to adjustable-rate mortgages with low initial interest rates and low required monthly payments.