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  2. Public Service Loan Forgiveness - Wikipedia

    en.wikipedia.org/wiki/Public_Service_Loan...

    The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.

  3. Loan servicing - Wikipedia

    en.wikipedia.org/wiki/Loan_servicing

    Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing ...

  4. Default (finance) - Wikipedia

    en.wikipedia.org/wiki/Default_(finance)

    In finance, default is failure to meet the legal obligations (or conditions) of a loan, [1] for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.

  5. What happens when you pay off your mortgage? - AOL

    www.aol.com/finance/happens-pay-off-mortgage...

    A loan payoff letter: This document will show (down to the penny) what you need to pay off the remainder of your mortgage, plus any owed interest or fees. If you have paid everything off, it will ...

  6. Administration of federal assistance in the United States

    en.wikipedia.org/wiki/Administration_of_federal...

    In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public safety, public welfare, and public works, among others.

  7. FHA insured loan - Wikipedia

    en.wikipedia.org/wiki/FHA_insured_loan

    FHA loans require a minimum FICO score of 580 to qualify for 3.5% down or 500 for 10% down. [citation needed] Additionally, the lender checks the financial history of the person getting the loan to see whether they have been delinquent on loans owed to the U.S. government; if they are, they do not qualify for a FHA loan. [2]: 131

  8. How Retirees Can Pay Off Student Loan Debt - AOL

    www.aol.com/retirees-pay-off-student-loan...

    Retiring without debt is the dream, but this isn't always feasible. According to the Federal Reserve, Americans age 60 and up carry around $126.6 billion in student loan debt alone -- that's way...

  9. 4 Government Agencies You May Not Know Will Help Pay Off Your ...

    www.aol.com/finance/4-government-agencies-may...

    President Joe Biden's student loan forgiveness plan seemed like a dream come true for millions of borrowers when it was unveiled in August of 2022. Now they face the nightmare possibility that the...