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 the...

A recast is a lumpsumpayment that lowers your monthly payment and may help you pay off your mortgage early. Learn six tips to pay off your mortgage faster, including recasting your loan.

A recast is a lumpsumpayment that lowers your monthly payment and may help you pay off your mortgage early. Learn six tips to pay off your mortgage faster, including recasting your loan.

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 ...

Principal reduction to help homeowners get into more affordable mortgages (recast or modification); and/or. Funding to eliminate homeowners’ second lien loans. You can see what options your state offers by visiting the National Council of State Housing Agencies.

Learn how to recast your mortgage and lower your monthly payment by making a lump - sumpayment toward the principal balance. Find out the eligibility requirements, fees, and process for recasting your loan with Mr. Cooper.

You can also make a one-time payment through your online account. Check out our Smart Calendar for important information about your due date, grace period, and more. Here’s a video on how it works and where to find it: © 2025 Nationstar Mortgage LLC d/b/a Mr. Cooper. Mr. Cooper is a ...

A recast is a lumpsumpayment that lowers your monthly payment and may help you pay off your mortgage early. Learn six tips to pay off your mortgage faster, including recasting your loan.

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A recast is a lumpsumpayment that lowers your monthly payment and may help you pay off your mortgage early. Recasting a mortgage happens when you put down a lump - sum payment toward the principal balance and t...