Setting up mortgage payments

[Mike or Penny Novack]

>Programs for checking your mortgage repayments suitable for Australia
>are on sale. The calculations are not easy for pen and paper work, but
>easily computerised. Prediction isn't required, so Mike doesn't need a
>crystal ball, but there would be some interest in checking after the
>event.
>  
>
I didn't think we were talking about CHECKING mortgage payments (after 
the fact) but being able to SCHEDULE mortgage payments (set up scheduled 
transactions in gnucash). I was referring to the impossibility of 
scheduling (with the amounts) when the amounts might change before the 
scheduled payment was due.

There is NO problem about entering mortgage payments manually once the 
amounts are known.

Were I in Australia  and had such a mortgage (with  rates as well as  
principle*) changing  within the period I'd probably have spot checked  
the bank's calculation (but unlikely to be doing that every month).  
But  that's more because if I did find an error  could probably get the 
bank to address the problem (I used to make my living writing  software 
for one of the world's largest "financials" so likely could "get 
through" to those doing that for the bank).

Michael D Novack, FLMI

* Here interest changing during the period we don't have but changing 
principle yes, any "line of credit" mortgage before the line of credit 
period has closed and it becomes a more ordinary sort. With a "line of 
credit" mortgage you might be taking out more loan or paying back some 
at any time.