Amortizing Mortgage Incorrectly

#2 01-26-2007, 09:25 PM

I have had the same problem, the only time I am asked about of transactions
is if I am adjusting a entry that has entries dated after it. If I am going
to correct the rest of them I check yes just in case MSM decided to figured
the amount right.

Cindy

"Chris Guimbellot" <cguimbellot[at]FORGETSPAM.hifranchise.com> wrote in message
news:uAkIC3YQHHA.3592[at]TK2MSFTNGP06.phx.gbl...
- quote -

> Thanks for the thought. It makes my wonder why yours is off so much. Mine
> was, up until this, dead on accurate every month. Being only off by one
> cent makes me agree with you that it may be a rounding issue.
> Thanks for the help.
> Chris
> "D" <D[at]discussions.microsoft.com> wrote in message
> news:3C5C3580-2A84-45A4-BAD9-B2E7C0D880CB[at]microsoft.com...
> > Chris, I have 2005 and my amortization is always off by 10 to 13 bucks.
> > But
> > when I make the manual change I am not asked any questions. I believe
> > it's a
> > rounding issue with the interest rate. I would just continue doing it
> > manually and say no to the message.
> > > "Chris Guimbellot" wrote:
> > > > Hello,
> > > > > Money 2005. I have a mortgage entered in Money which is about two years
> > > old.
> > > Somewhere along the way (mid 2006), it began to amortize incorrectly.
> > > When I
> > > check my monthly statement from the mortgage company, the principal and
> > > interest allocations were different. I went back with my statements and
> > > started to manually reallocate the payments. The first was off by some
> > > amount I cant remember (not more than $.50 or so). When I adjusted the
> > > first
> > > one, I received the following message:
> > > > > In the [Mortgage Company Name] loan account, there are loan payments
> > > following the one you are changing. Do you want Money to recalculate the
> > > principal and interest distribution for these payments?
> > > > > I told it Yes thinking that it would begin amortizing correctly. It did
> > > not
> > > work. The next month I opened was off by $.01. To correct, I had to add
> > > $.01
> > > to the principal and subtract the same from the interest. Again, I
> > > received
> > > the message, and again said yes. I then opened the following payments,
> > > all
> > > of which were off by the $.01. I manually adjusted each time, and chose
> > > yes
> > > when I received the message. Obviously there is something wrong with the
> > > way
> > > its amortizing. I know it probably seems trivial to worry about the one
> > > cent, but I would just like it to be accurate.
> > > > > Any ideas on how I can make it work correctly from here on out? I
> > > appreciate
> > > the help.
> > > > > Chris
> > > > > >

#1 01-26-2007, 08:05 PM

Thanks for the thought. It makes my wonder why yours is off so much. Mine
was, up until this, dead on accurate every month. Being only off by one cent
makes me agree with you that it may be a rounding issue.

Thanks for the help.

Chris

"D" <D[at]discussions.microsoft.com> wrote in message
news:3C5C3580-2A84-45A4-BAD9-B2E7C0D880CB[at]microsoft.com...
- quote -

> Chris, I have 2005 and my amortization is always off by 10 to 13 bucks.
> But
> when I make the manual change I am not asked any questions. I believe
> it's a
> rounding issue with the interest rate. I would just continue doing it
> manually and say no to the message.
> "Chris Guimbellot" wrote:
> > Hello,
> > > Money 2005. I have a mortgage entered in Money which is about two years
> > old.
> > Somewhere along the way (mid 2006), it began to amortize incorrectly.
> > When I
> > check my monthly statement from the mortgage company, the principal and
> > interest allocations were different. I went back with my statements and
> > started to manually reallocate the payments. The first was off by some
> > amount I cant remember (not more than $.50 or so). When I adjusted the
> > first
> > one, I received the following message:
> > > In the [Mortgage Company Name] loan account, there are loan payments
> > following the one you are changing. Do you want Money to recalculate the
> > principal and interest distribution for these payments?
> > > I told it Yes thinking that it would begin amortizing correctly. It did
> > not
> > work. The next month I opened was off by $.01. To correct, I had to add
> > $.01
> > to the principal and subtract the same from the interest. Again, I
> > received
> > the message, and again said yes. I then opened the following payments,
> > all
> > of which were off by the $.01. I manually adjusted each time, and chose
> > yes
> > when I received the message. Obviously there is something wrong with the
> > way
> > its amortizing. I know it probably seems trivial to worry about the one
> > cent, but I would just like it to be accurate.
> > > Any ideas on how I can make it work correctly from here on out? I
> > appreciate
> > the help.
> > > Chris
> > >

01-26-2007, 07:56 PM

Chris, I have 2005 and my amortization is always off by 10 to 13 bucks. But
when I make the manual change I am not asked any questions. I believe it's a
rounding issue with the interest rate. I would just continue doing it
manually and say no to the message.

"Chris Guimbellot" wrote:

- quote -

> Hello,
> Money 2005. I have a mortgage entered in Money which is about two years old.
> Somewhere along the way (mid 2006), it began to amortize incorrectly. When I
> check my monthly statement from the mortgage company, the principal and
> interest allocations were different. I went back with my statements and
> started to manually reallocate the payments. The first was off by some
> amount I cant remember (not more than $.50 or so). When I adjusted the first
> one, I received the following message:
> In the [Mortgage Company Name] loan account, there are loan payments
> following the one you are changing. Do you want Money to recalculate the
> principal and interest distribution for these payments?
> I told it Yes thinking that it would begin amortizing correctly. It did not
> work. The next month I opened was off by $.01. To correct, I had to add $.01
> to the principal and subtract the same from the interest. Again, I received
> the message, and again said yes. I then opened the following payments, all
> of which were off by the $.01. I manually adjusted each time, and chose yes
> when I received the message. Obviously there is something wrong with the way
> its amortizing. I know it probably seems trivial to worry about the one
> cent, but I would just like it to be accurate.
> Any ideas on how I can make it work correctly from here on out? I appreciate
> the help.
> Chris

#-1 01-26-2007, 04:38 PM

Hello,

Money 2005. I have a mortgage entered in Money which is about two years old.
Somewhere along the way (mid 2006), it began to amortize incorrectly. When I
check my monthly statement from the mortgage company, the principal and
interest allocations were different. I went back with my statements and
started to manually reallocate the payments. The first was off by some
amount I cant remember (not more than $.50 or so). When I adjusted the first
one, I received the following message:

In the [Mortgage Company Name] loan account, there are loan payments
following the one you are changing. Do you want Money to recalculate the
principal and interest distribution for these payments?

I told it Yes thinking that it would begin amortizing correctly. It did not
work. The next month I opened was off by $.01. To correct, I had to add $.01
to the principal and subtract the same from the interest. Again, I received
the message, and again said yes. I then opened the following payments, all
of which were off by the $.01. I manually adjusted each time, and chose yes
when I received the message. Obviously there is something wrong with the way
its amortizing. I know it probably seems trivial to worry about the one
cent, but I would just like it to be accurate.

Any ideas on how I can make it work correctly from here on out? I appreciate
the help.

Chris

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