Mortgage amortized payments have gotten out of sync

mikep2k1
mikep2k1 Member ✭✭
I set up automatic bill payments for my mortgage and it was calculating the correct amortized payments of P and I to transfer to my loan account. But then, one month's payment messed up in that it did not correctly calculate the p&I and just applied the entire payment amount. Now all payments just have an old P&I, without updating for each month. How do I get these payments back on track?

(I had previously posted this incorrectly in the Windows section, so I am reposting here in hopes of a resolution.)

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭

    You know, based on a quick look at your other discussion the answers given were correct. I am about to give the same answer …

    Changing Principal and Interest amounts in all transactions since and including the "messed up transaction" should bring the calculations back to sync for future payments.
    So, please edit the Splits and change them to use the correct amounts for P & I as indicated in the mortgage statement.
    You may have to review and, if necessary, edit the Splits every month before saving the scheduled transaction into the register, in case it still is off by a small amount.

    P.S.: If you really are a Q Mac user now, please edit your Community user profile to indicate that you are now using Quicken Mac Subscription. Your profile currently says Windows.

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