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Setting Up Mortgages in 2020 Subscription 5.14.3

I recently converted from Quicken 2017 for Mac to the subscription version of 2020 5.14.3 and ran into problems with getting my home mortgage set up to replicate what was working fine in Quicken 2017. I've attached 6 images that illustrate the problem.
Image 1 shows my current mortgage payment terms as set up in the mortgage section.
Image 2 shows the progress screen. So far so good.
Image 3 shows adding $5000.00 monthly to the principle payment, and this is where things go south.
Image 4 shows the defect. The software thinks the I want to add the $5000.00 payment starting at the beginning of the loan and therefore the loan should already be paid off and gives a warning as such.
Image 5 confirms this as the program calculates no principle and interest for the 2/1/2020 payment.
Image 6 shows how this worked in Quicken 2017 using the same mortgage data.
I have tried a manner of manipulations to get this issue resolved to no avail. Any suggestions?

Comments

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Hello @Bob57

    Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

    I was able to recreate this issue and receive the same message when adding $5000 to the extra principal in the loan terms.



    However, I did have luck,  removing the "Live Balance Adjustment" and creating my own "Extra Principal" category in the loan details.





    May I ask that you attempt this step and let me know if this shows you what you need?

    Thank you,

    -Quicken Tyka
    ~~~***~~~
  • John_M
    John_M Member ✭✭✭✭
    @Quicken_Tyka Good thinking! It appears that the Quicken field for "Extra Principal" has some logic in it that for some reason assumes this amount has been paid since the inception of the loan. What you have done is add a new category that does not have this logic attached to it, so it only has an effect going forward.

    I'm thinking that this is a bug that should be addressed.
  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Thank you for the response John and I'm glad to hear that creating a separate category will work in the meantime.

    I was able to recreate this issue, and have reported it.

    May I also ask that you please navigate to Help > Report a problem to report this as well?

    Thank you,
    -Quicken Tyka
    ~~~***~~~
  • Bob57
    Bob57 Member
    Tyka
    What you have proposed is to start the loan with it's original balance today, as if no payments have been made up to this date, but your proposed solution doesn't address the problem I have. The loan details you show didn't reflect the correct current balance so it won't depict the correct payoff date even if it did start the $5000.00 extra principle payments now instead of at the beginning of the loan. However, entering your data that you proposed gives me the same warning that the loan has already been paid off and shows the extra payments starting at the loan origination date. I don't think you have found a work around, unless there is something that you haven't explained.
  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Hello @Bob57

    Thank you for the response, and for providing more details.

    I do now see the issue that the extra principal amount is not being applied from the beginning of the loan.

    I have gone ahead and reported this problem, if you haven't done so already, please navigate to Help > Reported a problem to report this issue and provide details for research.

    Thank you,

    -Quicken Tyka
    ~~~***~~~
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