[moneydance] Rescheduling Loan

[Anthony]

OK - I experimented with the loan and made three changes by opening  
the loan account, and then choosing Accoount -> Edit and editing the  
account info window. The changes are: the number of payments per  
year, from 12 to 26, the number of payments left to pay off the loan,  
and the amount I pay each two weeks (as it is a fixed loan I have set  
my two weekly payment).

All in all, the result in the account window looks reasonable and I  
will keep and eye on how things go. The proof will be online for me  
on Tuesday morning.

A


On 2007 Jan 10, at 16:23, Anthony wrote:

> Hi
>
> I have instructed my bank to reschedule my mortgage repayments from
> monthly to fortnightly. I need to know how to reset my loan account
> to accommodate this and I cannot find it in the accompanying help.
>
> At the moment it is set up to pay monthly, as mentioned before.
>
> There are still 252 repayments left under that scheme.
>
> Under the new scheme there will be:
> 1. new starting principal (ie, the current balance)
> 2. the same interest rate
> 3. a new number of periods (525)
> 4. same interest rate as before.
>
> Once I find the right screen to do this, I think I will do it ok.
>
> I looked at the current loan set-up screen but I think altering that
> might throw things into disarray.
>
> Appreciate your help.
>
> Thanks
> Anthony
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