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Started By
Message
amortization calculator tool?
Posted on 8/9/24 at 8:21 pm
Posted on 8/9/24 at 8:21 pm
I recently did a seller finance home sale and my buyer is initating accelerated payments. I have no issue with this, but wanted to know if anyone here can recommend a tool or anything to accurately keep track of this to avoid us having issues several years down the road. Basically, need a ledger so I can input his payments and the exact day of the payments.
4
Posted on 8/9/24 at 8:27 pm to rpg37
How good are you at excel? Could setup a formula that amortizes the loan then take into consideration the payment on the day it’s made. I think you could find a simple loan amortization template and input your own variables, see below.
Something like this
Something like this
Posted on 8/9/24 at 8:51 pm to Rendevoustavern
I am above average, but would have to play with it for sure. Thanks for sharing this.
Posted on 8/9/24 at 11:48 pm to rpg37
quote:
to avoid us having issues several years down the road.
You might want to periodically send him a written statement showing where (you think) it stands, or you’ll almost definitely have problems down the road.
Posted on 8/10/24 at 9:18 am to Rendevoustavern
I did something like this in excel years ago. Didn't know of a better option.
OP should keep his buyer on same page now as there could easily be a difference of opinion. And document communications with buyer.
OP should keep his buyer on same page now as there could easily be a difference of opinion. And document communications with buyer.
Posted on 8/10/24 at 9:54 am to KennytheTiger
I agree with Excel format, then send periodic pdf of real time progress report.
Posted on 8/10/24 at 10:55 am to rpg37
Is the person paying extra or extra payments? This is fairly simply in excel.
All you are really doing is apply the extra payments to the balance which is the last payments. So if there’s 100 payments he is paying the 1st and 100th, then the 2nd and 99th, etc
All you are really doing is apply the extra payments to the balance which is the last payments. So if there’s 100 payments he is paying the 1st and 100th, then the 2nd and 99th, etc
Posted on 8/12/24 at 7:53 am to rpg37
TValue online is $60/yr.
TValue desktop is $150 onetime.
And yes, if you put an hour into it, you could easily do this in Excel.
TValue desktop is $150 onetime.
And yes, if you put an hour into it, you could easily do this in Excel.
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