Refinancing Mortgage

Dgrfred

I was following your instructions to set up the refinancing. However, I got different screens. I added the new loan but when I wanted to go and select the opening Balance there was no screen for the transaction balance to split. In addition, my old mortgage balance was zero out. Is there any way to correct this.

Tom Young

It sounds to me like you set up the new loan as a "downloading" loan whereby information about the loan is fed to Quicken from the lender.  With a downloading loan there's no loan register available to you.

I'd advise you to establish the new loan as a non-downloading loan.  That way the loan register is available to you and you can make entries to the register directly.

In the main there doesn't seem to be much point or purpose for establishing a loan as a downloading loan in the first place.  The information fed to you by the lender is only the change in the loan balance, there's no true payment information that includes interest, escrow, fees, etc., and downloading loans seem to be notorious for providing incorrect information due to the method used for collecting and downloading loan information, Express Web Connect.