Why does my new home equity loan show as "This loan is paid off"?

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gregincharleston
gregincharleston Member ✭✭
edited February 21 in Registers & Transactions (Windows)

I have a new home equity loan added to my accounts. There has been one large advance made, and one payment made. The loan balance reflects both of these, but the "Loan Details" states that "This loan is paid off". Why is this? I have the loan set up for online downloads from the lender. I would also like to be able to see a register of payments made to this loan. I have read that to do so, I need to deactivate the account from online update. Any suggestions here?

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  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    It reports that it's paid off because you created the loan as a downloading loan and something is screwed up with the download. And no, with a downloading loan you have no access to a loan register. That's just the way it is and complaints about loans being shown as "paid off" when they are not are fairly common. You can gain access to the loan register by disconnecting the loan from downloading and running it as a manual loan.

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  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Answer ✓
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    It reports that it's paid off because you created the loan as a downloading loan and something is screwed up with the download. And no, with a downloading loan you have no access to a loan register. That's just the way it is and complaints about loans being shown as "paid off" when they are not are fairly common. You can gain access to the loan register by disconnecting the loan from downloading and running it as a manual loan.

  • gregincharleston
    gregincharleston Member ✭✭
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    Thanks, Tom… I have done so, and it appears correctly.

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