Want to lower your monthly mortgage payment but without the hassle (and cost) of refinancing? You may want to consider “recasting” your loan.
Recasting a mortgage involves paying down the principal amount owed on the loan. If you have funds available that you’d like to invest somewhere other than a low interest savings account, paying down the principal on your mortgage and having the loan recast will reduce your monthly payment fairly significantly.
The definition of “recast” when… Continue Reading Recast your mortgage


