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 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.

Refinancing doesn’t have to be difficult. Our experts make the process quick & easy. Our mortgage experts break down important tips & topics. When can I remove PMI from my loan? Why did my payment change? Where can I find my monthly statement? How do I setup paperless statements? H...

Recasting a Mortgage: A Way To Lower Your Mortgage Payments; 8 Ways to Save Money on Homeowners Insurance; Why Did My Mortgage Payment Change? Here Are 3 Possibilities; How To Pay Off a Mortgage Early; View more »

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.

The trick is to apply the entire amount to your mortgage’s principal balance, which is what you owe before interest, taxes, and insurance are added in. Learn how to recast your mortgage and lower your monthly payment by making a lump-sum payment toward the principal bala...

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amor... Learn six tips to pay off your mortgage faster, such as making extra payments, switching to biweekly payments, or refinan...

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 payment by making a lump - sum payment toward the princip...

Recasting Fees – There is usually a non-refundable fee of up to $250 to recast your mortgage. Mortgage Term – The ter... Payments are considered late, and late fees are assessed, at midnight when your grace period ends and are calculated as outlined in your Note.