When you Record Payment for less than the regular payment — or simply want to park money for later — NoteHarbor gives you two clear choices instead of forcing the money to apply.
Pay part now (partial payment)
Choose Apply as partial payment when the borrower pays some of what's due. NoteHarbor applies what was paid through the waterfall, but:
- the shortfall stays owed, and
- the installment is not marked paid in full.
Unpaid interest keeps accruing on the balance, so a short month shows up honestly rather than silently clearing the row.
Hold the entire payment in suspense
Tick Hold entire payment in suspense to receive the full amount but leave it completely unapplied in the loan's suspense balance — for any amount, not just a shortfall. The amortization schedule and amount due are untouched: the scheduled payment stays due until you decide what to do with the held funds.
When you're ready, apply the held money toward the next installment with the Apply suspense control on the Fees & Suspense tab (also on the Escrow tab).
Telling them apart on the Payments tab
A held payment is flagged In Suspense, and a short regular payment tints its row so you can spot it at a glance. See Late-payment color-coding for the row colors.
See Recording a payment for the full set of application types, and The Fees & Suspense tab for applying held funds later. How the unpaid interest portion of a shortfall is carried is configurable per loan — see US Rule — interest-shortfall treatment.