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Mortgage messed up - Quicken not working

I used the What-If feature of loans to see what would happen if I got a lower interest rate. I believe this changed the actual interest rate on my loan. I noticed my auto entered mortgage payment for 9/1 was wrong. Anyway, it shows my mortgage on the screen for the mortgage account as 1.59%. That is incorrect so I click the blue "edit" link and it shows 3.375% in the pop up and that is correct. When I click OK it still says 1.59% is the interest rate and the payment is incorrect. I tried 3 times to change it including restarting Quicken.

To be clear, I am in the loan account and it has the balance at the top, interest rate, monthly payment and next payment date at the top. Below it has a graph of % paid off a breakdown of the payment in a graph (principal vs interest), etc.
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Comments

  • MichaelCorteseMichaelCortese Member ✭✭
    When I click "Edit Terms" below it lets me change the interest rate. However, it is still a bug that it doesn't change on the upper "Edit" link.
  • Quicken_TykaQuicken_Tyka Moderator mod
    Hello @MichaelCortese

    Thank you for taking the time to visit the Community to report this issue.

    May I ask that you navigate to Help > About Quicken and provide the release that you are currently running?

    I am currently running R28.10 and I do not see this behavior. I am able to successfully change the interest rate shown in the "What If Tool" section.

    I have a few questions to help me isolate what could be causing this behavior for you.

    First, is this an older loan that you have had in the file for some time? Is it possible that the loan was carried over from a previous version of Quicken?

    Also, have you tried any steps such as validate and repair? If not, I would start with that step.

    File menu > File Operations > Validate & Repair option.

    In the Validate File window that opens, click the top box to "validate file" and then click OK.

    Please let me know how it goes!

    -Quicken Tyka

    Happy Harvest! Gobble! Gobble!
  • MichaelCorteseMichaelCortese Member ✭✭
    I am on R28.10 also. It is not in the What-if tab. It is in the Loan Detail tab. I believe when I used the What-if section it changed the actual interest rate. I could be wrong on that, but the edit is not working correctly. It also reverted back to the incorrect 1.59% when I exited Quicken and came back in. As you can see in the screenshot the interest rates do not match. I did not change anything in the pop-up box.
  • Quicken_TykaQuicken_Tyka Moderator mod
    Hello @MichaelCortese

    Thank you for providing additional details and clarifying where you are experiencing this behavior.

    I am also unable to recreate this under the Edit Loan details section either.



    The interest rate stays the same when close and reopen Quicken.

    I do not see this in an existing loan or in a new loan.

    -Quicken Tyka

    Happy Harvest! Gobble! Gobble!
  • MichaelCorteseMichaelCortese Member ✭✭
    It is an existing loan. Well, I can reproduce it a 100 times. I have a video of it, but I cannot attach it here.
  • Quicken_TykaQuicken_Tyka Moderator mod
    Hello @MichaelCortese

    Thank you for the response and for the additional information. I do understand that you are able to actively recreate this in your file and while if this is a bug, it is possible it could be intermittent and not easily recreate-able for others.

    However, I am unable to recreate this and am also unable to rule out this being caused by an issue specific to your data file.

    As a test, can you try creating a test file and adding this loan account and see if you are able to recreate this issue in a new environment?

    Alternatively, you may navigate to Help > Report A Problem and fill out the problem report to report this issue.

    You will not receive a response, for the submission, however, this information will be forwarded to our development team.

    Thank you,
    -Quicken Tyka
    Happy Harvest! Gobble! Gobble!
  • MichaelCorteseMichaelCortese Member ✭✭
    I'm not really here to do the testing and development teams work. 16+ releases this year and still buggy on 25 year old software.
  • Quicken_TykaQuicken_Tyka Moderator mod
    edited August 9
    Hello @MichaelCortese

    Thank you for the response and I understand that reporting and testing issues can be time-consuming.

    To be clear,  this issue cannot be recreated and troubleshooting is required to investigate this further, therefore this is not being reported.

    As the Community is mainly a user to user forum, with a few employees to help answer questions. I would recommend contacting support directly should you decide to pursue this issue in the future.

    https://www.quicken.com/support#contact-support

    Support has tools to troubleshoot and research issues that the Community does not.

    Thank you,

    -Quicken Tyka

    Happy Harvest! Gobble! Gobble!
  • MichaelCorteseMichaelCortese Member ✭✭
    Current mortgage balance is around $98k, 3.375%, 6.5 years left of a 15 year. I go into the What If calculator and put in an extra $500/mo payment. It says I will save $119.07 which isn't even close to accurate. If I put in a one time payment it seems to work correctly.
  • Quicken DianaQuicken Diana Moderator, Employee mod

    Hello @ MichaelCortese

    Thank you for posting in the Community today, though I’m sorry that you are experiencing this issue with the mortgage tool.

    I believe I have copied your situation exactly and the projection seems to present accurately. 



    Let’s check a couple of things. Click on the HELP menu at the top left of Quicken and choose the option CHECK FOR UPDATES. If and update is available, go ahead and install it. 

    Once that is done, click on the FILE menu, then hover over FILE OPERATIONS and choose the VALIDATE AND REPAIR option. Click on the first option on the left, VALIDATE FILE and click OK at the bottom right.

    Once the validation has completed, try the WHAT IF TOOL again. Did it work correctly this time?

    Thank you

    - Quicken Diana


  • MichaelCorteseMichaelCortese Member ✭✭
    It says I have the latest version. R28.18.

    When I do it it says it will be paid off no earlier than if I make no extra payments. That doesn't make sense.
  • Quicken DianaQuicken Diana Moderator, Employee mod

    Hello @ MichaelCortese

    It looks like the information may have not been entered correctly in the set up. I have copied your loan details, however we have different outcomes. My monthly payment is 694.58 and yours is 1417.52. I will suggest checking the loan set up details.

    Were you able to run the validate file function?

    Thank you

    - Quicken Diana


  • NotACPANotACPA SuperUser, Windows Beta Beta
    Did you click on "See Results" after you input the $500 amount?  Because it worked properly for me also.  And I'm running R28.18 also.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • MichaelCorteseMichaelCortese Member ✭✭
    Yes, I pressed See Results.

    You cannot really reproduce what I have exactly because I didn't give the start date of the loan (which is July 2014) or original balance ($200k). I also made extra principal payments already.
  • Quicken_NatalieQuicken_Natalie Moderator mod
    Hello @MichaelCortese,

    Thank you for posting back with additional information regarding this issue, although I'm sorry to hear that the trouble persists. 

    At this time, I would suggest contacting Support directly for more advanced assistance.

    https://www.quicken.com/support#contact-support

    Support has access to tools and information that the Community does not have, including the ability to screen share with you, and can best work with you towards identifying a solution.

    Thank you,

    Quicken Natalie

     
  • MichaelCorteseMichaelCortese Member ✭✭
    Also, when I click the gear in the upper right of the same screen and click "Transactions" nothing happens. Too many bugs. New releases every few weeks and more bugs. I am not going to act as Quicken's testing team on a product I bought a subscription for. Releases every few weeks is a bad sign, not a good one. I worked in software development for years.
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