Falling mortgage rates, real estate appreciation, and other factors can make refinancing your mortgage a good idea. If you've already set up a Loan Account for your existing mortgage, Money can help you close your original mortgage and track the new mortgage using loan accounts.

1  When you refinance your mortgage, typically you'll receive a check from your new mortgage to pay off the original mortgage. When you receive this check, go to the loan account you use for tracking your mortgage.

How?

1  On the navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click Accounts.

2  In the upper-left corner of the Account Register, click the down-arrow  , and then click the account you want.

2  Enter the mortgage check you receive as a deposit. The balance for your loan should now be zero.

3  On the navigation bar click Accounts. Right-click the loan account, and then click Account is closed.

4  To set up your new mortgage, you'll need to create a new loan account.

How?

1  On the navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click Accounts.

2  At the bottom of the screen, click New Account. Follow the instructions on the screen.

How do I set up my new loan?

How do I use the Loan Worksheet?

Tell me more about loan reports.