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Extra mortgage principal calculating wrong (Q Mac)

across81

I saw that a previous post about this topic was closed, but I'm having the same issue.

On one of my mortgages, when I go to put in extra principal, the calculations are messed up and Quicken says that my loan should be paid off already. I think it is calculating if I had paid that amount extra since the beginning of the loan? I want it to calculate the extra principal starting with the next payment. When will this get fixed?

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Quicken Jasmine

[Removed - Windows Instructions]

jobworker

@Quicken Jasmine

Just following the discussion out of interest, but am perplexed because I do not see any mention of Validate and Repair File…, in my FILE menu. What am I missing?

jacobs

@jobworker The reply from @Quicken Jasmine above was for Quicken Windows, but this thread is about Quicken Mac. Quicken Mac does not have the database corruption issues that Quicken Windows does, and accordingly doesn't have the database repair tools that Quicken Windows does. In short: ignore those instructions; they don't apply to Quicken Mac.

@across81 It would help if you provided the (rough) parameters of your loan, so others here could test to see if we're seeing the same result you are. I haven't seen this reported before, so my initial guess is that it has to do with some detail in how the extra principal payment is being entered in Quicken, but I need specifics to see if we can get to the bottom of your problem.

jobworker

@jacobs Thanks for that clarification. I suspected that was the case , but never to assume anything. I don't have any problems with my loan but as I said was interested to investigate the situation originally brought up by @across81 purely from an interest point of view.