Recasting lowers your monthly mortgage payments without changing the term or interest rate. Reducing your principal balance saves money by lowering the interest you pay over time. Recasting could ...

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 ...

But there are limits on your ability to recast your mortgage, and those with certain loan types or little equity might not have the option. Here's what to know about mortgage recasting and how to ...