Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will re...

Recasting a mortgage lowers your monthly payment by paying down the principal, but does not change your interest rate or loan term. Learn what recasting a mortgage means, how to do it, and what are the benefits and drawbacks.

While refinancing means replacing your existing loan with a new one, loan modification keeps your existing loan and changes its terms. If you qualify for a loan modification, some potential ways to reduce your monthly payment would be through lowering your interest rate or extending ...

Recasting a mortgage lowers your monthly payment by paying down the principal, but does not change your interest rate or loan term. Learn what recasting a mortgage means, how to do it, and what are the benefits and drawbacks.

A repayment plan is an agreement that spreads the past due amount over a specific period, typically 3–6 months, during which time you make a full payment, plus a partial payment, until the account is brought current. Repayment plans can be an ideal option for homeowners who fac...

Recasting a mortgage lowers your monthly payment by paying down the principal, but does not change your interest rate or loan term. Learn what recasting a mortgage means, how to do it, and what are the benefits and drawbacks.

View activity & make or edit any type of payment. View, download, or print your account statements. Manage all insurance & tax details for your mortgage. Info for new and recently transferred customers. View common mortgage assistance solutions. Get help and support for your Mr. Coop...

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan terms will rema...

Recasting Fees – There is usually a non-refundable fee of up to $250 to recast your mortgage. Mortgage Term – The term (length) of your mortgage remains the same.

A verification of mortgage (VOM) is an official statement that verifies your existing loan terms and provides a rating of the payment history, including if the loan was current or delinquent for each month listed. It reflects only the most recent 12 months of your loan, exc...