Mortgage recasting allows you to pay a lump sum toward your mortgage in order to reduce your remaining monthly payments and interest. When you recast your mortgage, you’ll keep the same interest rate ...

determine what your new monthly payment would be after recasting your mortgage. You can do this using an online amortization calculator or reach out to your lender. Is the new payment low enough ...

Mortgage recasting allows you to pay a lump sum toward your mortgage in order to reduce your remaining monthly payments and interest. When you recast your mortgage, you’ll keep the same interest ...

These extra principal payments likely aren’t as large as the lump sum you’d pay to recast your loan, either. You can use Bankrate’s mortgage payoff calculator to see how making extra ...