My mortgage balance in Quicken doesn't match the mortgage balance. How do I fix?

RedLadynFl
RedLadynFl Quicken Windows Subscription Member
edited October 19 in Download, Add/Update Accounts (Windows)

I have never had a problem with my mortgage balance until this year. When I look at the full payment schedule it shows adjustments being made every month beginning in March of 2025. These adjustments are wrong and need to be deleted, but my mortgage doesn't show payment details any more. It used to. When I try to update the balance nothing happens. I have no idea how to locate these adjustments to get rid of them. Please help!!!!

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Are you downloading information from the lender into that mortgage Account? If you are, then you lose the ability to edit that Account's Register.

  • RedLadynFl
    RedLadynFl Quicken Windows Subscription Member

    No I always adjusted the payment per the mtg co. Ironically, my mtg in Quickbooks always matched the bank. I don't know why it started making adjustments.

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭

    "No I always adjusted the payment per the mtg co."

    I'm not quite sure what this means. It sounds like you might be entering the entire payment into the checking Account, with the full amount going to the loan Account, and then,later, after knowing how that payment was accounted for by the lender, going into either the checking Account or the loan Account and "splitting" that gross payment into its principal and interest and, maybe, escrow elements. Is that correct?

    Although that doesn't square with your "When I look at the full payment schedule it shows adjustments being made every month" statement which suggests you used the Quicken loan "wizard" to set up the loan and one of the things that wizard does is create a complete amortization schedule. Is that what you're referring to here?

    I need a better understanding of how you set up the loan when you began using Quicken and how you've been doing your monthly accounting for payments. Also expand upon your "but my mortgage doesn't show payment details any more" statement. To my ear that sounds like the balance in the mortgage Account is magically changing without any transaction listed to show why it changed the way it did.

    PICTURES of what you're seeing and referring to would be a great help.

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