[jira] [Commented] (FINERACT-167) Implementation of loan foreclosure functionality

["Sendoro Juma (JIRA)" <ji...@apache.org>]

    [ https://issues.apache.org/jira/browse/FINERACT-167?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16516854#comment-16516854 ] 

Sendoro Juma commented on FINERACT-167:
---------------------------------------

Dear @Vishwa1311

cc [~santoshmath]

How far...

> 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
>            Priority: Major
>              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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