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I accidentally messed up my mortgage amortization - how to reset?

brucemid15

Greetings!

I am 12 years into my mortgage using a monthly 'Bill Reminder' as the prompt for my monthly payments into the register. Over the last couple of years I noticed my end of year balances were slightly off. Finally troubleshooting this I discovered that I had entered a payment - then deleted it (likely due to the need to edit and adjust the next year's payment splits). When I re-entered it I used the "next" month's 'Bill Reminder' such that I effectively skipped forward a month on the amortization schedule.

Is there a way to reset this in the past such that it would recalculate the P/I splits I have put in over the last 2 years and get things fixed? I dread having to go back and re-enter all of those manually.

Thanks for any help!

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Comments

UKR

I'm not quite sure if you can reset the scheduled reminder's date to a prior month for a mortgage payment schedule.
I would try to manually fill in the gap by recording a new register transaction which uses the missing date and the same category splits as used by a nearby "good" mortgage payment transaction and with the correct amounts needed for that month.
Use the next instance of the scheduled reminder for recording the real next due payment.

[Deleted User]

@brucemid15 if the fix that @UKR suggested still doesn't fix your issue, the other thing you can try is changing the dates of the mortgage payments starting with the month gap and going forward.

I have discovered that any time you adjust a mortgage schedule in any way, you end up with a large balloon payment that I haven't found a way to fix. I mention this only so you don't try to spend a lot of time fixing the balloon payment if you notice it.