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https://issues.apache.org/jira/browse/FINERACT-167?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Santosh Math updated FINERACT-167:
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Labels: confirm (was: )
> Implementation of loan foreclosure functionality
> ------------------------------------------------
>
> Key: FINERACT-167
> URL: https://issues.apache.org/jira/browse/FINERACT-167
> Project: Apache Fineract
> Issue Type: New Feature
> Components: Loan
> Reporter: Vishwanath R
> Assignee: Markus Geiss
> Labels: confirm
>
> On foreclosure of the active loan application, the following things should
> happen,
> 1) Repay total loan outstanding principal amount.
> 2) Repay total Interest amount (accrued and due) till Foreclosure date.
> 3) Repay total Fee, Charges or Penalties due, if any till Foreclosure date.
> 4) Accounting entries will be made as per product configuration for interest
> and loan portfolio payments.
> 5) Future installment Interest, Fee, Charge, or Penalty, if any, is waived
> off (there won’t be any accounting entries for these transactions).
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