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defered mortgage payment

I have to defer my next mortgage payment which will be added onto the end date of my mortgage. How do I do this with my Quicken loan?

Best Answers

  • J Lombard
    J Lombard Member ✭✭
    Accepted Answer
    Thank you, Frank. I was hoping that would be the solution.

    regards

    J

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited March 2020
    Hi @J Lombard,

    I just need a few details:

    Is it correct that you will not be paying your next FULL  MONTHLY mortgage payment?

    Is your mortgage loan a fixed interest rate mortgage, or does the interest rate vary?  If it varies - please explain.

    When you say "will be added onto the end date of my mortgage" does this mean that on your last regular mortgage payment, the payment amount will be doubled, or does this mean that an extra payment will be due and payable one month after your mortgage would have been paid-off?

    Have you been tracking AND reconciling your mortgage in Quicken (so that the balance currently agrees with a mortgage statement or a current online balance?

    Let me know.

    Frankx


    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
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  • J Lombard
    J Lombard Member ✭✭
    I will not be paying my FULL MONTHLY mortgage payment.
    My mortgage payment is a fixed rate mortgage.
    It will be adding an extra payment one month after the normal end date.
    I have been tracking & reconciling my mortgage in quicken & it generally agrees with my bank statement.

    J Lombard
  • J Lombard
    J Lombard Member ✭✭
    What happens if I use the "ignore this one" button?
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Thanks - that's helpful. Three more questions - did the lender agree that the interest for the month you will not make a payment will be forgiven?  Were there any other "accommodations" made by the lender?

    Frankx


    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • J Lombard
    J Lombard Member ✭✭
    no the interest will continue to accumulate. No other "accommodations" were made.

    thanks

    J
  • J Lombard
    J Lombard Member ✭✭
    Accepted Answer
    Thank you, Frank. I was hoping that would be the solution.

    regards

    J
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