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How to adjust mortgage loan full payment amount in Windows Quicken 2008

TXBelle

My lender reduced the amount that goes into escrow, which lowered the total payment amount (principal and interest amounts didn't change) and I can't figure out how to adjust this in my scheduled payment in Windows Quicken 2008. In the image below you can see that the Full Payment amount is $1,654.21 - with the reduction in escrow I need for the Full Payment amount to be $1,560.96.

I do not have my computer connected to the Internet so I won't be downloading any transactions.

Is there a way to adjust this or do I need to delete and recreate the loan and associated payment? The amount is likely to change again before the entire loan is repaid since property tax amounts change yearly.

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Scheduled Transactions

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Accepted answers

UKR

How about … I would just simply try to click "Adjust" in the Split Transaction window.
That should get rid of the $93.25 difference shown in line 2 of the dialog and reduce your full payment amount accordingly.

All comments

Tom Young

The screens have changed their look over time but I don't think anything in the actual programming of how loans are set up and modified have changed. There's that "Edit" button right next to the "Other amounts in payment:" line so I'd think simply clicking that button - which it looks like you've done - and reducing/changing the amount would work.

Here's a loan with no escrow payments:

I click edit and add a new escrow amount that the lender has imposed:

New Total Payment with new escrow amount now included:

UKR

volvogirl

And FYI - You should at least try to convert to the 2013 version since you don’t use any online services or download transactions now. Starting in 2014 they instituted an ID password to get into your own data. I’m staying on 2013. Then it should be more stable and run on newer computer systems.

You can download 2013 Deluxe directly from Quicken for free using this how to convert article. It’s under Converting from Quicken 2004-2009. Click on the blue words Quicken 2013 for Windows in step 3

https://www.quicken.com/support/how-and-when-use-intermediate-version-convert-older-versions-quicken

FYI - All Quicken versions prior to QW2010 store your data in a series of files all sharing the same filename but with different extensions like - .IDX, .QEL, .QPH & .QDF, and all 4 of those files were rolled into a single-file .QDF in starting in 2010.

TXBelle

Thank you UKR! I feel like a dufus for not even seeing the "Adjust" button, but that worked! Now my escrow amount is correct and so is the full payment amount.

volvogirl - I do plan to upgrade, I was looking to purchase Quicken 2013 for Windows on disk but since I haven't found any I may take your suggestion…thanks!

volvogirl

I have the Q 2013 Premier CD but my new laptop doesn't have a CD drive so I used the free 2013 Deluxe download which will have the updates. If you find a CD you will have to update it and Quicken doesn't have the old updates. But one of the users here has a website with a lot of the old updates.