Money: Converting a Loan into an Adjustable Rate Mortgage
  
PSS ID Number: Q171966
Article last modified on 03-25-1999
 
WINDOWS:
 
WINDOWS
 

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The information in this article applies to:
 
 - Microsoft Money 99 
 - Microsoft Money 98 
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SUMMARY
=======
 
Money 98 and Money 99 provide support and advice for Adjustable Rate Mortgages
(ARMs). If you upgrade from an earlier version of Money, or convert from
Quicken, your loans are converted as fixed-rate loans. Money maintains any past
interest rate history. To take full advantage of Money support for ARMs, you
need to update these types of loans to Adjustable Rate Mortgages.
 
MORE INFORMATION
================
 
1. In the Accounts area, right-click the loan and click Go To Details.
 
2. In the left pane, click Update Interest Rate. Type the effective date of the
   first rate change, and then click Next.
 
3. Click Adjustable Rate Loan (ARM), and then click Next.
 
4. Type the date of the next interest rate adjustment and the period between
   adjustments. Click Next.
 
5. Type the new Principal + Interest payment or leave it blank and Money
   calculates it. Click Next.
 
6. Type the new interest rate, and then click Next. Money calculates the
   payment. If it is correct, click OK.
 
7. Click Finish.
 
For additional information, please see the following article in the Microsoft
Knowledge Base:
 
Q171710 Money 98: How to Track an ARM Loan From Its Inception Date
 
For more information on ARMs and mortgages, see Money Help.
 
Additional query words: 6.0 7.0 w_money variable hat
 
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Keywords          : kbdta mnyweb kbimu kbfaq
Version           : WINDOWS:
Platform          : WINDOWS
Issue type        : kbhowto
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Copyright Microsoft Corporation 1999.