# Clearing loan amount for paid-off property

**URL:** <https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422>\
**Category:** Uncategorized\
**Created:** [July 2, 2025, 9:04pm UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422 "2025-07-02T21:04:06Z")\
**Posts on this page:** 5\
**Page:** 1

<div class="post-metadata">

**Author:** ![jaiminswita](https://avatars.discourse-cdn.com/v4/letter/j/dec6dc/32.png) [@jaiminswita](https://community.stessa.com/u/jaiminswita)\
**Post date:** [July 2, 2025, 9:04pm UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422/1 "2025-07-02T21:04:06Z")

</div>

We recently started renting our 2nd home, which is already paid off. Being a newbie in Stessa, when I created that property record, I added the original loan amount, which now keeps showing in the valuation. I have been trying to find the settings to clear it so it no longer distorts the valuation, but have not been able to find it. I checked the Financials & Assets as well as details for the property, but don’t see the loan value I had originally entered.  
Any help is appreciated.  
Thanks

---

<div class="post-metadata">

**Author:** ![jaiminswita](https://avatars.discourse-cdn.com/v4/letter/j/dec6dc/32.png) [@jaiminswita](https://community.stessa.com/u/jaiminswita)\
**Post date:** [July 9, 2025, 3:56pm UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422/2 "2025-07-09T15:56:52Z")

</div>

I tried adding a screenshot for this about 6 days back, but it keeps showing “awaiting approval”. ☹

---

<div class="post-metadata">

**Author:** ![tlatuga](https://avatars.discourse-cdn.com/v4/letter/t/65b543/32.png) [@tlatuga](https://community.stessa.com/u/tlatuga)\
**Post date:** [July 15, 2025, 10:24am UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422/3 "2025-07-15T10:24:21Z")

</div>

@jaiminswita Let’s try this:

1. Go to “Properties” tab  
 ![image](https://canada1.discourse-cdn.com/flex032/uploads/stessa/original/2X/a/a8354ce4f30d32951919d2497fe141dcbdfceeec.png)

2. Select property in question  

3. Select the tab “Financials & Assets” 

4. You should see the mortgage on the right side. Click the vertical 3 dots. Select delete.  

Let us know if it goes away.

-Tom

www.realcentsorganized .com

---

<div class="post-metadata">

**Author:** ![jaiminswita](https://avatars.discourse-cdn.com/v4/letter/j/dec6dc/32.png) [@jaiminswita](https://community.stessa.com/u/jaiminswita)\
**Post date:** [July 23, 2025, 12:57pm UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422/4 "2025-07-23T12:57:17Z")

</div>

Hello Tom,  
I don’t have any mortgage for this property as it is paid off before we started renting it out. So, there is nothing for me to delete.

Thanks

---

<div class="post-metadata">

**Author:** ![tlatuga](https://avatars.discourse-cdn.com/v4/letter/t/65b543/32.png) [@tlatuga](https://community.stessa.com/u/tlatuga)\
**Post date:** [July 26, 2025, 12:42pm UTC](https://community.stessa.com/t/clearing-loan-amount-for-paid-off-property/17422/5 "2025-07-26T12:42:47Z")

</div>

@jaiminswita I appreciate the update and I will share that as I was onboarding a new client with 6 properties, I experienced what you were describing. 3 of the 6 properties showed a mortgage balance and negative equity even though I never added that information. I contacted support and they couldn’t determine the cause but they were able to delete the false information from their side of the system. I suggest you open a support ticket and they will resolve your issue. Thanks for sharing.

-Tom  
www.realcentsorganized .com