MAKING A MORTGAGE LOAN TO OTHERS

JR3766

Please tell me how to enter a mortgage loans I make to other people? I loan my personal money direct to various borrowers. I need to be able to track payments received, apply principal to amortize the balance and track the interest earned. I am using Quicken Home & Business for Windows.

Tom Young

Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."

Boatnmaniac

More detail on this process can be found at How do I set up a loan for which I am the lender?

Tom Young

Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."

Boatnmaniac

More detail on this process can be found at How do I set up a loan for which I am the lender?

JR3766

IT WORKED PERFECTLY!!! THANK YOU