Let me rephrase the question...

[Joe Hildreth]

I have an existing home mortgage that the principal balance is $82,000.
The house is valued at $100,000 dollars.

I want create the accounts for this loan.  I know I need the following

Assets: Checking (where I will show my payments)
Assets: Purchased Assets (where I will keep the value of the house)

Expense: Interest Paid (Where I will track the interest paid on the mortgage loan)

Liability: Home Mortgage (Which tracks the principal amount of the loan)

Maybe I was making more complicated than I needed to.  Would I do the following to set it up?

Create the Assets:Purchased assets with an opening balance of $100,000 from Equity: Opening Balances (The same account that I used to set up my checking balances)

Create the Liability: Home Mortgage account with a opening balance of $82,000 from Equity: Opening Balances

Then when I want to make a payment do a split like this:

Assets: Checking debit the payment
Expense: Interest Paid credit the interest portion
Liability: Home Mortgage credit the principal payment

I am sorry if my question is rudimentary, but I am pretty new to this stuff and desperately trying to figure it out.  Thanks for your help.

Warm Regards,

Joe