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 remain t...

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.

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.

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 remain...

Find out the eligibility requirements, fees, and process for recasting your loan with Mr. Cooper. Learn how to recast your mortgage and lower your monthly paym...

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 remain...

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. Example If you recast 10 years into a 30-year mortgage, you will still have 20 years left on your term.