Bug 103181: not-monthly repayment schedules not supported in Mortgage/Loan Druid

[alessandro basili]

Hi David,

On 1/14/2014 4:25 PM, David wrote:
[]
> As a longtime user, I can tell you that there will be a huge cry of
> thanks from the user base if you can get the mortgage calculator
> working better. I know I am not the only user who has either
> abandoned the scheduled mortgage payment altogether, or who has to
> change every created transaction after the fact because the calf's
> are off.

As of now I've tracked two major problems but there might be others:

1) compound periods other than 'monthly' are wrongly computed - this
happens even if the functions are manually corrected (Bug 103181).

2) any mortgage/loan started in the past would not compute correctly
(Bug 635435).

If anyone knows more of them related to the mortgage assistant (or if
you can guide me on how to search for them), please let me know.

> I would ask you to consider checking first on whether you can create
> a "balance as of date" function, as it seems many mortgage complaints
> originate from the fact that GnuCash can't do this. With such a
> function, users would be able to prepayment their loans and GnuCash
> would still be able to calculate and allocate correctly -- something
> it cannot currently do.

Uhm, isn't a 'balance as of date' automatically calculated? Executing
the past transactions would immediately lead you to how much you 'should
have paid so far'. Am I missing something?

> I've been told this would be complicated, but I toss it out with
> hope...

For the sake of discussion (and understanding), isn't a 'compounding
frequency' field be needed at the very beginning of the calculation? The
Financial Calculator has it, so I wonder why the Loan Assistant does not.

Moreover it seems that the Loan Assistant allows to have a period of
repayment which is different from the compounding one, fine, but should
it be reasonable to give 'any' frequency? How reasonable it is to have a
be-weekly compounding frequency and pay the mortgage every 23 days?

-- 
Alessandro Basili - Electronic Engineer

PH/UGC Department
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