Can not add a new mortgage account

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KJD99
KJD99 Member ✭✭
edited June 2022 in Download, Add/Update Accounts (Windows)
Hi,

I am trying to add a new mortgage account but it goes into an endless loop when attempting to create the reminder. The problem is described well here: https://community.quicken.com/discussion/7905827/trying-to-setup-a-new-mortgage-in-quicken-end-up-in-infinite-loop

I have done a validate and super validate. Both types of validate indicated a damaged reminder has been removed. However the problem persists and I can not create the new account. I have deleted all reminders, validated, the bad reminder and inability to create the account persists.

Any ideas?

Thanks
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Best Answer

  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
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    If the issue is not resolved by performing the Copy and Validate Instructions as described in:  https://www.quicken.com/support/advanced-data-file-troubleshooting-correct-problems-quicken-windows,  I suggest you report the issue to Quicken: select Help > Report a problem...

    Your post is the twenty-first discussion on this topic since December 2019 that I am aware of.  We've been informed that all of the data files Quicken has received thus far with this issue have been resolved by performing the Copy and Validate Instructions.

Answers

  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
    Options
    If the issue is not resolved by performing the Copy and Validate Instructions as described in:  https://www.quicken.com/support/advanced-data-file-troubleshooting-correct-problems-quicken-windows,  I suggest you report the issue to Quicken: select Help > Report a problem...

    Your post is the twenty-first discussion on this topic since December 2019 that I am aware of.  We've been informed that all of the data files Quicken has received thus far with this issue have been resolved by performing the Copy and Validate Instructions.
  • Quicken Jasmine
    Quicken Jasmine Moderator mod
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    Hello @KJD99,

    Thank you for contacting the Quicken Community, though I do apologize that you are experiencing this issue with adding a mortgage account. 

    What version of Quicken are you running? You can see this by navigating to Help > About Quicken. Which financial institution is your mortgage account with?

    First, I suggest creating a test file and attempting to add the mortgage account(s) to see if it produces the same error. It is recommended to save a backup before proceeding with troubleshooting steps in the event that you would like to return to your original starting position. Below are instructions on how to create a test file:
    1. Choose File menu > New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select New Quicken File.

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Click OK.
    2. In the File name field, enter the name of the new file, then click Save. Use a name like "Test File" to tell it apart from your main file. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows
    Don't use any of these characters: * ? < > | " : \ / (asterisk, question mark, left and right-angle bracket, pipe, straight quotation marks, colon, BACKSLASH, FORWARD SLASH). Also, don't add the .qdf extension; Quicken does that for you.

    1. Sign in with your Quicken ID. If you are prompted to create a Quicken ID but already have one, click Sign In under the Create Account prompt. 

    Advanced Data File Troubleshooting to Correct Problems With Quicken for Windows

    1. Select to not use Mobile.
    2. Click Add Account to start adding accounts to the new file.

    After adding accounts, see if you are experiencing the same problems in this test file. 


    Please let me know how this goes, I look forward to hearing your response. 

    -Quicken Jasmine

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  • KJD99
    KJD99 Member ✭✭
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    I am running R40.21. I had no issues adding the mortgage to a new test file.
  • Quicken Jasmine
    Quicken Jasmine Moderator mod
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    Hello @KJD99,

    Thank you for updating me and for attempting the test file. 

    Since you were able to add the mortgage account to the test file, I suggest returning to your active file and restoring from a backup that was created before you noticed this issue with not being able to add your mortgage account. After restoring from a backup, you may try adding the mortgage account again. For more information regarding saving and restoring from backups, you may follow this link. Remember, it is advised to save a backup before proceeding with troubleshooting steps (just in case)

    Let me know how it goes!

    -Quicken Jasmine

    Make sure to sign up for the email digest to see a round-up of your top posts.

  • KJD99
    KJD99 Member ✭✭
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    The damaged reminder issue had been in the file for a long time. It has not caused an issue until attempting to add the mortgage account. So, I just lived with it. Going to a backup would loose way too much (year+) data.

    Any other options?
  • Sherlock
    Sherlock Member ✭✭✭✭
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    KJD99 said:
    The damaged reminder issue had been in the file for a long time. It has not caused an issue until attempting to add the mortgage account. So, I just lived with it. Going to a backup would loose way too much (year+) data.

    Any other options?
    Again, if the Copy and Validate Instructions do not resolve the issue, do let us know and select Help > Report a problem...
  • UKR
    UKR SuperUser ✭✭✭✭✭
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    Just my 2cents' worth ... I would not bother attempting to activate any loan or mortgage account for downloading. I would just simply set them up as "offline" (manual) loan accounts. 
    (Not discussing LOC or HELOC accounts here. They should be set up like credit card accounts)

    At least in Quicken for Windows, an online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

    Effective with Quicken Windows 2018+
    you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.

    If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments from your checking account.

  • KJD99
    KJD99 Member ✭✭
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    Sherlock was correct. Prior copy and validate efforts used windows explorer to copy the file and then validate the resulting file. Actually following the instructions and using the copy function within Quicken and then validating fixed the issue. Thanks for all the help.
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