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IBA SM NEWSLETTER 2005 is almost over, and it is time to think about 2006. The planning committee is busy putting together the meeting at McCormick's Creek State Park. The dates are April 21 ? 23,
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IBASM stands for Income-Based Amortization Schedule Method. It is a method used for calculating the amortization schedule for a loan based on the borrower's income.
The borrowers who have opted for the IBASM method for their loan repayment are required to file IBASM.
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The purpose of IBASM is to provide borrowers with a loan repayment plan that is based on their income, allowing them to make affordable payments.
The information that must be reported on IBASM includes the borrower's income, loan amount, interest rate, and loan term.
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