Correcting pay off date on a loan

Options
timjimbob
timjimbob Member ✭
edited January 2023 in Errors and Troubleshooting (Windows)
I do not download bank info. I cannot correct payoff date on a loan.
Is there a way to change pay-off date without reentering all loan information.
I have tried that and cannot get it to work out correctly.
Tagged:

Best Answer

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    Escrow should be defined in Quicken as a separate asset account and recorded as if it was a transfer to the asset account. Here's an example of how this should look like:
    The total amount of all 4 lines matches the amount transferred to the mortgage company.

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Options
    More details, please.
    Is this a traditional mortgage, an automobile loan or something else?
    Why does the payoff date not match the mortgage statement?
    Do the payment details entered into your manual Quicken loan account register not match the mortgage statement?
    Have you corrected actual principal and interest amounts calculated by Quicken to what was actually charged in the mortgage statement for past payments?
  • timjimbob
    timjimbob Member ✭
    Options
    30 year mortgage.
    I found loan length was correct but payment amount had included escrow also. Re entered p+I and excluded escrow. Now, loan length is correct.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    Escrow should be defined in Quicken as a separate asset account and recorded as if it was a transfer to the asset account. Here's an example of how this should look like:
    The total amount of all 4 lines matches the amount transferred to the mortgage company.
This discussion has been closed.

Categories