[GNC-dev] "Mortgage Repayment Druid"

[Jean Laroche]

Note that there is a pull request that adds the ability to use the 
current balance of an account in a scheduled transaction.
https://github.com/Gnucash/gnucash/pull/682

This allows setting up a scheduled transaction for your mortgage payment 
that's smart enough to compute the interest owned based on the current 
balance of the mortgage account. So for example, if you make an extra 
payment, the scheduled transactions created by the current "Mortgage & 
Loan Repayment Assistant" will all be off. But if you setup your 
schedule transaction to use the current balance to compute the interest 
owned, the correct interest will be calculated no matter your 
prepayments etc.

That pull request has been sitting on the list since April, as the 
powers that be don't seem to think it's a priority or even a good idea 
to merge it into maint or master. Check it out, and voice your interest 
if you think that would be useful to you.

Jean

On 9/16/20 9:52 AM, David Carlson wrote:
> In release 2.6.19, which I am still using, it is found in the menu tree in
> the location Christopher Lam described.  The help manual section for
> Account Tree > Actions > Scheduled Transactions > Mortgage & Loan
> Repayment... refers to a section called Mortgage & Loan Repayment Assistant
> which describes how it works.  There used to be a reference to a section on
> the website about using variables in scheduled transactions, but I cannot
> find it today.
> 
> This tool works fine as far as it goes, to set up a traditional mortgage
> repayment scheduled transaction following the calculation methods
> traditionally used in the US.  Unfortunately, it is not flexible enough to
> handle modern calculations involving daily interest calculations,
> prepayments, and other variations, but it can still be used to set up a
> reasonably good estimated split between principal and interest with or
> without escrow or insurance, but to keep an accurate running balance it is
> usually necessary to manually adjust
>   each payment transaction in GnuCash  when the payment is actually made to
> reflect the actual values reported by the lender.
> 
> There have been many discussions over the years in the user maillist about
> these shortcomings.
> Many users, myself included, would appreciate work on improving this
> assistant.
> 
> David Carlson
> 
> On Wed, Sep 16, 2020 at 10:01 AM Christopher Lam <christopher.lck at gmail.com>
> wrote:
> 
>> I think it has been renamed to Actions > Scheduled Transactions > Mortgage
>> & Loan Repayment...? Maybe it has hit a raw nerve with some wizards and
>> warlords.
>>
>> On Wed, 16 Sep 2020 at 14:27, Dean Jagels <dpj-gcash at mhtsa.us> wrote:
>>
>>> There are a couple of old enhancement requests that refer to a "Mortgage
>>> Repayment Druid."  Is/was this a wizard of sorts?  Does it still exist?
>>> The House Mortgate How-To in the doc's makes no mention of such a thing.
>>>
>>> Thanks,
>>> Dean
>>>
>>>
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>>>
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> 
>