"Chris Konecny" <chris[at]konecny.net> wrote in message
news:gvKkf.15382$wi2.8850[at]bignews1.bellsouth.net...
- quote -

I'm not sure there's a huge difference. You can still associate a HELOC with
an asset, from the account settings page of the asset. If you do that and
also use the Lifetime Planner, selling the house presumes payoff of the
associated loans.

When you post interest charges to the HELOC, you can associate them with a
category you've configured as deductible mortgage interest (or not), for tax
purposes.

Is there something more you are expecting, or feel you're lacking?
--
Chris Cowles
Gainesville, FL

Alex, how did you work around this issue? I have the same issue (accounting
for Mortgage Interest, splitting payments, etc.) with a new HELOC.

- Chris

"Alex Liberov" <alexl[at]HTRMicronite.com> wrote in message
news:OHPoPk%23lFHA.3780[at]tk2msftngp13.phx.gbl...
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Right now I'm using M2006 Premium.
I was using 2005 Premium and I believe 2004 Premium as well.
If you try to create a HELOC under 2006, Money converts the account into
Credit Card type. This was not the behavior in 2005 (or 2004. I don't
remember under which version I created my older HELOC)
The difference between accounts is not that great and I can live with it.
On the other hand, if 2006 already has HELOC type of accounts and treats it
correctly, why not to allow their creation? I think this is a bug, that
could be easily fixed.

Alex Liberov.


"John DeMastri" <john_underscore_demastri_[at]_mindspring_dot_.com> wrote in
message news:eNseoBwlFHA.3584[at]TK2MSFTNGP10.phx.gbl...
- quote -

John DeMastri wrote:
- quote -


Zach

I have Money 2004 and I was not able to setup a true HELOC type account.
When I chose that type it converted it to a Credit Card type account.

Kevin
"Alex Liberov" <Alex Liberov[at]discussions.microsoft.com> wrote in message
news:90287FB6-09A8-4206-925E-45D41D4CA4CE[at]microsoft.com...
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FWIW, in Money 2006, my HELOC account type is not grayed out. The drop-down
box for account type still works and is sitting at credit card type.
There's just no account type for HELOC to change to. I will say one thing -
looking at my credit report, it's apparent that HELOCs are considered in the
same category as credit cards even though interest may be tax deductible.

-- John

"Alex Liberov" <alexl[at]HTRMicronite.com> wrote in message
news:O0x2U4qlFHA.3552[at]TK2MSFTNGP10.phx.gbl...
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When you set up a new account in 2005 (Deluxe, anyway, if it matters), you
select "Other account type (such as loan, asset, or watch accounts)", then
select "Home Equity Line of Credit" from the next window account type list.
After this, it sets up a plain old "Liability" account listed with the other
loans you may have.

So you're both right. You can tell 2005 you have a HELOC, but it mostly
ignores that detail.

- John

"Alex Liberov" <alexl[at]HTRMicronite.com> wrote in message
news:O0x2U4qlFHA.3552[at]TK2MSFTNGP10.phx.gbl...
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What version of Money 2005 are you using? That's not the way it works in
mine.

--

"Alex Liberov" <alexl[at]HTRMicronite.com> wrote in message
news:O0x2U4qlFHA.3552[at]TK2MSFTNGP10.phx.gbl...
- quote -

I am absolutely positive, that there was a way to set up a HELOC account at
least in Money 2005. This account doesn't have a 'type: credit card ' field
grayed out in account setup and it behaves differently. I tried few times
to create a similar account in 2006 and I cannot.
I have this account since 2004 or 2005. I checked again now, this is a
different kind of account. It looks more like a loan account with columns
like Principal and Payment, not like in credit cards. On the other hand it
is not a regular loan. I think it is a Microsoft bug, that Money 2006
cannot create a new account like this again. If account already exists,
Money works with it without problems.

Alex Liberov.

<johnbusc[at]hotmail.com> wrote in message
news:1122824790.013145.93880[at]o13g2000cwo.googlegroups.com...
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No, 2005 also set up these loans as Credit Card.

JB

That's not been my experience in 2004 - it was transformed into a credit
card type account. I had to manually set up transactions in categories that
would be tax deductible. I don't see any change in behavior for 2006.
Maybe 2005 was different?

"Alex Liberov" <Alex Liberov[at]discussions.microsoft.com> wrote in message
news:90287FB6-09A8-4206-925E-45D41D4CA4CE[at]microsoft.com...
- quote -

In Money 2004 (or 2005) there used to be a HELOC account type. Somehow in
2006 creating a new HELOC account defers to a Credit Card Account type. I
think it is a bug. Microsoft should report the change in what's new, since
they didn't, I guess it is a bug.
After we refinanced our HELOC, I cannot create a new HELOC account in Money
2006.

HELOC accounts used to automatically calculate finance charges, handle
changing interest rates and track interest as tax-deductible, etc...

If someone knows how to report it to Microsoft, please do so.
If someone knows how to create old-type HELOC account in Money 2006, please
post instructions.

Thanks in advance,

Alex Liberov