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From "ASF GitHub Bot (JIRA)" <j...@apache.org>
Subject [jira] [Commented] (FINERACT-167) Implementation of loan foreclosure functionality
Date Mon, 13 Jun 2016 12:29:21 GMT

    [ https://issues.apache.org/jira/browse/FINERACT-167?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15327261#comment-15327261
] 

ASF GitHub Bot commented on FINERACT-167:
-----------------------------------------

Github user asfgit closed the pull request at:

    https://github.com/apache/incubator-fineract/pull/138


> 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
>
> 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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