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Mortage loan stopped Amortization/

I set up a new Mortgage loan in October 2020. The first payment was due 12/1. During the set up process, the new account created an automatic payment transaction and put it in the calendar. This account is manful, not attached to a web Connect. The first two payments enterered correctly. The principle, interest and impound account payments matched the lender's statement exactly. The third transaction, however started the problem.

First, the transaction total was reduced by over 4 dollars. The interest and principle are now stagnant in all scheduled transactions moving forward. I did not change anything in the account or the memorized transaction. Quicken has taken it upon itself to do this. Support's solution was delete and start over. So anyone else notice this or am I just stuck editiing this transaction for the next 30 years?
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Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suspect the issue may be due the interaction with the cloud account associated with the Quicken file.

    Before restoring a Quicken file backup (or opening an earlier version of a Quicken file), I suggest deleting the Quicken Cloud dataset (aka cloud account) associated with the Quicken file.  Note: You need to open another Quicken file to delete the appropriate cloud account.  You may want to review: https://www.quicken.com/support/how-edit-or-delete-your-cloud-datasets-quicken-windows

    The other Quicken file needs to have a distinct file identifier so that we may delete the cloud account associated with the original Quicken file.  For example, you may create a new Quicken file (select File > New Quicken File...) without any accounts, enable sync in preferences so you may view and delete the cloud account associated with the original Quicken file. 

    This is necessary because when we open or restore an another version of the Quicken file with the same file identifier, Quicken is not resetting the cloud account appropriately at this time.  I hope they will let us know when they have addressed this issue, but for now before opening another Quicken file that has the same file identifier embedded, delete the cloud account.  

    Note: Only File > New Quicken File... generates a distinct file identifier.  All other forms of creating a Quicken file, copy the embedded identifier from another file.

    If you simply want to repair the loan payment reminder issue in the current Quicken file, I suggest you follow the guidance provided in: https://community.quicken.com/discussion/7164936/faq-how-do-i-convert-a-loan-account-that-automatically-downloads-transactions-to-a-manual-entry-sc
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