Mortgage/Loan druid questions

[Bengt Thuree]

Hi

I reached the Loan chapter, and since a) I have not used this feature
before and b) there is no tooltips I would like to ask some clarification
questions ...

Please review below Gui items, and my preliminary explanation of them.
I also marked some questions with "===>"

/Bengt



Mortgage/Loan Druid

Loan Account
        The account which has the loan
                Liabilities:Loan:House

Amount
        The total loan amount, same as above account

Interest Rate
        The interest rate.

Type
        Fixed   -- Always same interest rate
        3/1     -- 3 years fixed, changed yearly after
        5/1     -- 5 years fixed, changed yearly after
        7/1     -- 7 years fixed, changed yearly after
        10/1    -- 10 years fixed, changed yearly after

If you choose NOT fixed, you can also specify the Interest Rate Change
Frequency, and more or less specify whatever intervall you want.

===> What is the purpose of 3/1 - 10/1 when you can specify everything
manually?

Start date
        Start date of loan

Length
        Length of loan

Months remaining
        Number of months remaining

Do you...
---------
Escrow ???
        Guess this is which account you use to pay the loan from?

PMI?

Insurance?

Rapayment
---------

Name
        Name of Loan (appears on Schedule transactions I guess)

Amount
        pmt formula.
===> Do not seem to be possible to change this formula? Whatever I type in
dissapears (after hitting forward, and then back)


===> How do I set up ballon payment in the end (at least I think it is
called that :) ) A loan of 20000, you pay fixed amount for 3 years, then
the remainder in one go.


===> No way to get a running total (payed, as well as remaining amount of
loan)? in the review page?





-- 
Bengt Thuree   bengt at thuree.com