This file is ADJR_ANA.TXT and is located in your NoteSmith Data folder. Edit it within NoteSmith by selecting Tools, Text Editor from the menu. Anything you type in this file will appear on your adjustable rate analysis reports.

You should include an explanation of the rate change, the fact that the remaining payments or term will stay the same, and that the note will still amortize normally. Be sure to specify if the payment amount changes on the interest change date or on the following payment. For instance:

Your next payment should be made at the new amount. The amount due and the due date are shown below. --or--

Your next payment can be made at the old amount. After you make the payment due as shown below, future payments should be for the new amount. --or--

Your next payment can be made at either the new or the old amount with interest calculated at the old rate. Starting with the payment after the one indicated below, you must make your payment at the new amount and interest will be calculated at the new rate.

Keep this file short enough so it fits on one page.
