When will Quicken create Heloc accounts properly?

Options
thechad
thechad Member ✭✭

To a moderator:

I've read a lot about Quicken's recommendation about setting up a Heloc loan as a credit card. This is not ideal because you miss the best portion of a loan setup, which is the loan trajectory and "What If" scenarios. When will Quicken update this area to properly align a Heloc as a variable loan with the loan calculator benefits?

Using: Mac Deluxe version

Tagged:

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Options

    But a HEELOC, with it's variable payments CAN'T use the loan calculator … because the payment stream (unlike a traditional loan) isn't determined in advance.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • thechad
    thechad Member ✭✭
    Options

    I understand the current limitation, which brings me to ask the question about fixing this issue for Helocs. For example, an automatic recalculation of the loan details upon a withdrawal, payment, or change in rate would allow it to remain a loan. Just a thought as one idea. Not trying to push any ideas, I’m sure the good people at Quicken can come up with better solutions.

This discussion has been closed.