How to record prepaid items ( like interest, prop tax, and insurance) when creating new loan
I just refinanced, and set up the new loan, but I don't know how to account for items in my closing costs such as prepaid prop tax, interest, etc. I can't take them out of the loan, as it reduces the loan amount and I still owe the full amount since I haven't even made one payment yet. Help?
This discussion has been closed.