I recently re-financed my home with a mortgage that
requires me to pay only the interest (no principle) each
month. I want to set this up in Money 2004, but the loan
wizard won't let me create a loan with payments of $0.00
for principle.

How can I set this up?

Bill

Re: Setting up an interest-only loan by via_newsgroup

via_newsgroup
Mon Sep 20 11:01:58 CDT 2004

In microsoft.public.money, BillB wrote:

>I recently re-financed my home with a mortgage that
>requires me to pay only the interest (no principle) each
>month. I want to set this up in Money 2004, but the loan
>wizard won't let me create a loan with payments of $0.00
>for principle.
>
>How can I set this up?

Leave the payment or interest rate blank. Set the Balloon equal to
the principle.


Re: Setting up an interest-only loan by Glyn

Glyn
Mon Sep 20 11:02:34 CDT 2004

You shouldn't need to. When putting in the details of the loan, set the
balloon payment to be the value of the loan, and Money will not calculate
any principal for you.

--
Glyn Simpson, Microsoft MVP - Money
http://money.mvps.org

Check http://support.microsoft.com/default.aspx?scid=fh;EN-GB;mny
for UK tips and fixes for MS Money. To send Microsoft your wishes or
suggestions, use http://register.microsoft.com/mswish/suggestion.asp
or http://www.microsoft.com/uk/support/money/feedback especially
if it's a UK specific wish.

I do not respond to any unsolicited email regarding Money

"BillB" <anonymous@discussions.microsoft.com> wrote in message
news:3c8e01c49f2a$7baa55e0$a401280a@phx.gbl...
>I recently re-financed my home with a mortgage that
> requires me to pay only the interest (no principle) each
> month. I want to set this up in Money 2004, but the loan
> wizard won't let me create a loan with payments of $0.00
> for principle.
>
> How can I set this up?
>
> Bill