mortgage payment schedule off by one month

bravoechofoxtrot

I refinanced in October 2021, with the first loan payment taking place on November 1, 2021. I just made the February 2023 payment - the 16th payment - but the payment schedule shows the March 1 payment to be payment #18, and the payment details (split between principal and interest) are incorrect i.e. they're off by a month as well. Is there a way to reset the schedule to have payments recorded correctly without having to manually change the details?

Quicken Jared

bravoechofoxtrot said:

I refinanced in October 2021, with the first loan payment taking place on November 1, 2021. I just made the February 2023 payment - the 16th payment - but the payment schedule shows the March 1 payment to be payment #18, and the payment details (split between principal and interest) are incorrect i.e. they're off by a month as well. Is there a way to reset the schedule to have payments recorded correctly without having to manually change the details?

Hello @bravoechofoxtrot,    

We are sorry about these problems with Mortgage payment dates appearing incorrectly, and with out-of-order payments. Thank you for asking about these matters here on the Quicken Community.

Is there any way you could provide screenshots of what you're seeing - with personal information redacted as necessary? You can follow the steps explained in this FAQ in order to do this. Also note that you may drag and drop your images into your comment in order to submit images, as well. 

I look forward to your response.

Thanks, 

Quicken Jared 

bravoechofoxtrot

Jared:

Per your request here's a screenshot of my mortgage account payments, showing 16 payments plus 1 upcoming payment on March 1. Also included in the screenshot is Quicken's payment schedule, which shows the upcoming payment on March 1 will be payment #18 (rather than 17) and shows a different split of principal & interest (i.e. the P&I for the March 1 payment is correct on what is listed on the upcoming payment (on the left), the P&I listed for the March 1 payment is actually the correct P&I split for the April 1 payment.

Quicken Jared

bravoechofoxtrot said:

Jared:

Per your request here's a screenshot of my mortgage account payments, showing 16 payments plus 1 upcoming payment on March 1. Also included in the screenshot is Quicken's payment schedule, which shows the upcoming payment on March 1 will be payment #18 (rather than 17) and shows a different split of principal & interest (i.e. the P&I for the March 1 payment is correct on what is listed on the upcoming payment (on the left), the P&I listed for the March 1 payment is actually the correct P&I split for the April 1 payment.

Hello @bravoechofoxtrot,    

We are sorry about these problems that seem to be continuing, and thank you for talking with us in greater detail about this, and providing that helpful screenshot.

When did you first notice this issue? Have you tried restoring from a recent backup? We recommend saving backups frequently by navigating to File > Save a Backup File... in the upper menu at the top of the screen. Provided that this has been done often, you should be able to restore from a backup that was saved just prior to when this issue emerged by navigating to File > Restore from backup... in the same menu. I am curious about whether or not this problem continues in the restored file.  

Let us know how this works.

Thank you,

Quicken Jared 

bravoechofoxtrot

Jared - Thank you for the prompt reply. I noticed this after making the February 2023 payment. I made the payment on January 27 but happened to look at the register on January 30. I backup my file at each program exit but only save 5 copies, so I don't have a backup file from January 27 (not that I would be interested in re-inputting data anyway.) I have an amortization table in Excel that I'll use to manually change the splits going forward. It's not a big deal, but it's still disappointing that such a basic function works incorrectly.