Deferred Mortgage Payment
BillCV
Quicken Windows Subscription Member ✭✭
I read this link
https://community.quicken.com/discussion/7880459/deferred-mortgage-payments
but it doesn't answer my question. I've deferred several payment to the end of my mortgage with no additional interest or penalties. I'm about to restart making them so the next payment will be as if those payments were made.
I think what I need to do is to create a "balloon payment" liability account with 0% interest and make those payments from there so that the regular payments have the correct principal and interest. When I sell the house, I can then payoff that balloon payment liability.
Does that make sense ?
https://community.quicken.com/discussion/7880459/deferred-mortgage-payments
but it doesn't answer my question. I've deferred several payment to the end of my mortgage with no additional interest or penalties. I'm about to restart making them so the next payment will be as if those payments were made.
I think what I need to do is to create a "balloon payment" liability account with 0% interest and make those payments from there so that the regular payments have the correct principal and interest. When I sell the house, I can then payoff that balloon payment liability.
Does that make sense ?
0
Answers
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What I did was create an "other liability" called "JP Morgan Balloon" and made the payment of the Mortgage from there during the deferred period1
This discussion has been closed.