Re: Quicken Mortgage Payment Question?

On 10/31/24 10:31 AM, Andrew wrote:
> On 10/29/2024 10:29 PM, John Pollard wrote:
>> I can't imagine any scenario where that would be a good way to deal 
>> with extra loan principal payments.

I should have said:

"I can't imagine a scenario where that would be a good way to deal with 
any problem(s) created by an extra loan principal payment."

> I don't mean for that to have been JUST for the extra payment; it would 
> be for ALL the payments if the splits in the register aren't updated. 
> I'll see what happens on my second automated payment after I make an 
> extra deposit to principle after the first automatic payment is made 
> tomorrow, 11/1.

Even when there is no payment due for a while, it's pretty easy to 
determine what happens when there is extra principal applied to a 
Quicken loan using the loan payment Reminder (or Memorized transaction).

File > Copy or Backup File > Create a Copy or Template.

Copy EVERYTHING.

In the copied .QDF file:

Note (print, if needed) the Loan Payment Schedule.

Tell Quicken to Enter the next loan payment Reminder ... with an extra 
principal split line.

Then compare the Loan Payment Schedule to the one before the payment was 
Entered.

[NOTE: a .QDF file created by the above Quicken Copy feature will have 
ALL online-enabled accounts deactivated for downloading. For the above 
suggested test, that will pose no problem, as the copied file was just 
for the purpose of the one test and can be deleted.

But for those that want to continue to use a copied .QDF file created by 
the above approach, they will have to re-Activate all their accounts 
that were de-Activated by the Copy.]