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Using the "What if" function for loan projections

I just setup my mortgage loan and in the "What if" page entered this scenario:
"what if I paid an extra 900 in principal per payment (Monthly)"
The result was that my payoff date stays at 30 years and despite making more than double principle payments every month I only save $1142.2 in interest.
This is clearly not making an extra $900 per month but only a single $900 payment. So some programmer needs to fix this! I get the exact same result if I propose a one time payment of $900.

Best Answer

  • Poppie
    Poppie Member
    Answer ✓
    Going to FILE>FILE OPERATIONS>VALIDATE AND REPAIR solved the problem


  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I'm not able to reproduce the issue you have described on R31.12.

    Note:  If you want to report a problem to Quicken, I suggest you select Help > Report a problem... or contact Quicken Support
  • Poppie
    Poppie Member
    Answer ✓
    Going to FILE>FILE OPERATIONS>VALIDATE AND REPAIR solved the problem
  • drc409
    drc409 Member ✭✭
    I'm having same problem. Performing File validate and repair did not resolve problem for me.
  • Quicken Anja
    Quicken Anja Moderator mod
    Hello @drc409,

    Thank you for reaching out to the Community and adding to this discussion to tell us about your issue, though I apologize that you are experiencing this.

    First, could you please tell us which version release of Quicken you have currently running?
    • Help > About Quicken
    To start with, since Validating your current file did not resolve the issue for you; if you haven't already, I suggest you create a copy of your data file first in an attempt to rebuild all of the internal lists and database tables. Then, try to Validate your data file in the copied file by following the steps below. However, I do recommend that you also save a backup of your data file first before trying these steps (just in case).
    1. Navigate to the File menu
    2. Select File Operations
    3. Copy...
    4. Leave the presets as is and click OK
    5. Wait for the copy procedure to complete
    6. Select New Copy and click OK                                                                              If Quicken reports an error when creating the Copy file, then hold Ctrl + Shift while you click File > File Operations > Copy. When prompted to "Ignore errors that prevent file copy?" click Yes. Note: Only do this if you receive an error as this may cause some data loss.
    7. Once the newly copied file opens, navigate back to the File menu
    8. Select File Operations
    9. Validate and Repair...
    10. Select Validate file
    11. Click OK
    12. Close the Data Log
    13. Close Quicken (leave it closed for at least 5 secs)
    14. Reopen Quicken and see if the issue persists.
    You can also try to Super validate the copied file by holding down the Ctrl + Shift keys on your keyboard while selecting Validate and Repair... (step 9) which will give you the option to Super validate file instead of Validate file.

    If this does not resolve the issue, you can either switch back to your original file or restore the backup you saved prior to performing the above troubleshooting instructions (both the original and backup files should remain unaffected by the steps performed in the copied file).

    Follow the steps below to switch back to your original file
    1. Click the File menu.
    2. Look near the bottom of the options list.
    3. Select the data file you want to open. 

    Quicken will list the most recently opened data files, with a checkmark next to the file you are currently viewing.

    Let us know how it goes!

    -Quicken Anja
  • drc409
    drc409 Member ✭✭
    Hello, thanks for response. I'm running R32.12.

    I performed steps as you outlined. Problem still exits.
  • drc409
    drc409 Member ✭✭
    Update: I tried using "what if" loan payoff tool on other loan accounts and it worked. The only loan that tool is not working properly for is a new loan I created in February of this year.
  • drc409
    drc409 Member ✭✭
    Update: at least in my case, changing the initial entry in new loan account register to "Opening Balance" fixed my problem.
This discussion has been closed.