Change mortgage payment frequency

Changing payments from monthly to every 2 weeks. In Loan Details, when I change this setting it forces my payment higher than my actual payment (set, agreed to by myself and mortgage company). How can I force this payment below what Quicken says?

Quicken Windows Premier 2020
Updates current

Comments

  • Mark1104
    Mark1104 Member ✭✭✭✭
    are you sure you and the mortgage company didn't agree to twice per month (which is different from 'every 2 weeks'.) 
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited August 2020
    If you're paying half of the monthly mortgage payment every two weeks, I suggest you use a biweekly reminder to transfer half of the monthly mortgage payment to a holding account (a cash account created for the purpose) and enter the monthly mortgage payment reminder or memorized payee to draw the balance of the holding account.  When there are three payments in a month, you should include the additional principal when you enter the monthly mortgage payment.
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