NEW button: Lenders, loans to borrowers are started here. General information, loan information and, if applicable, underlying loan information can be set up all at once. If you only set up borrower information and then exit, nothing will be saved. Only after general information and loan information is entered, can the records be saved.
EDIT Button: Related to Scroll Box-double clicking on a record in scroll box is the same as clicking once on the desired record and then clicking once on the edit button. Editing the original information with NO payments entered as yet, will be the same as entering a new record except you are editing rather than re-entering data. Corrections to information can be readily changed without serious conciquences.
If payments have been entered for this record, editing should be carefully considered. You will be given the choice to effect FUTURE payments only or ALL payments that are currently on file as well as future payments yet to be entered. Under the situation where you purged (deleted) the payment file though a specific date to free up disc space or reduce the size of the records, FUTURE payments are the only choice you have. The same goes when you enter an adjustment here or maunally at payment entry, that effects future activity. Future will be your only option.
DELETE Button: Status 'A' Acitive Records can not be deleted after payment activity has started! The other Status Codes are listed and changed though the EDIT button. When a loan is paid off through payments entry, however, the 'P' Paid OFF status is automaticly set. The Underlying loan related to the original loan record is not deleted at this time since it is also independent of the original loan. SELECT a record before activating this button.
UNDERLYING LOAN
Only one Underlying loan is available for each primary loan. You can enter it at the time you set up the primary loan or later using the NEW Button.
There is a net effect to monthly payments and total current principle as primary loan is principle 'asset' and underlying is principle 'liability'.
NEW Button: If the information about the underlying loan was not entered at the time of the original loan was entered, you may add it to the selected record here. SELECT a record from Scroll Box before clicking on this button.
EDIT Button: Editing the Underlying Loan works basicly the same as the Primary Loan. See Above instruction. SELECT a record before activating this button.
Because the Underlying could exist active even after the primary loan is deleted (or visa versa), there is a second EDIT button available at the Payments Select Window on far bottom left.
DELETE Button for Underlying Loans is located at the EDIT window. The 'A' Active status Must be changed to 'P' Paid Off status before you can delete the underlying loan record. When a loan is paid off through payments entry, however, the 'P' Paid OFF status is automaticly set. No payments are deleted with the deletion of the loan or underlying loan record. (For deletion of payments select Payments on Main Menu then select 'Payments-File Purge' button.)
