Another update and STILL NOT FIXED! Steps are being made in the right direction but someone still does not understand the fundamental problem on the development team!
Mortgages that are refinanced are held for only part of the year. To calculate the Average Balance of a loan that was held part of the year:
Definitions
m = # of months the loan was held. This is finally being calculated close enough to correctly for government work.
b = final balance at the close of the loan
a = average balance for that loan to be entered on the mortgage interest worksheet to determine total money borrowed against the house. THIS IS WHAT IS STILL NOT BEING CALCULATED CORRECTLY!
Calculation
(m/12)*b = a
To calculate total debt, add all average balances for the year. IT SHOULD NOT BE THAT HARD!!!
FIX THIS!
