How do you record a loan payoff

I have paid off several of my loans but can’t figure out an easy way to simply delete the mortgage without deleting the history. You can edit the loan information but does not allow you to clear out all of the inputs.

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@mcpage3 Good question.

To clear a mortgage, you may need to do either or both of the following, in this order:

  1. Delete the “Mortgage” card at lower right on your Property Details page. You access this page by clicking on the thumbnail photo on your Properties page.

  2. Click the small gear icon at far right of “Property Details” (near the photo), select “Edit Financials” and then zero out the mortgage balance.

You are correct that Stessa does not currently support keeping records of past mortgage data. You can only edit by overwriting prior inputs. If you’d like to see more support for changes to mortgages over time, refinancing, etc. please post your requests and comments to the Wishlist.

Thank you - option #1 worked like a charm. Gone. Thanks.

Is there any reason not to keep the entry generated by Stessa’s showing the payoff amount? In my case I paid a large chunk to pay off early. So I recorded it using the Proceeds and Payoff sub-category.

There’s now a dedicated help article that clears up many outstanding questions about logging purchases, sales, and refinances in Stessa. Check it out: Track Purchases, Sales, and Refinances