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Bookmark or Share- Mortgage Recasting: Can It Save You Money? – Forbes AdvisorMortgage recasting is the process of reducing your mortgage balance through a lump-sum payment, and then making smaller monthly payments until you pay off your loan.
- Mortgage Recasting: What You Should Know | Rocket MortgageA mortgage recast is when you make a lump-sum payment toward the principal balance of your loan. Your lender will then reamortize your mortgage with the new (lower) balance. Your interest rate and term remain the same, but you can lower your monthly payments because your principal went down.
- Why You Should Consider a Mortgage Recast - NerdWalletMortgage recasting is one way to reduce your monthly mortgage payments. It’s less common than refinancing or modifying a loan, and it’s rarely advertised, but it decreases mortgage payments for...
- What Is Mortgage Recasting And How Does It Work? - CNBCWhat Is Mortgage Recasting And How Does It Work? CNBC NBC News here. Mortgages. Mortgage recasting can help you lower your monthly payment without the hassle of refinancing. If you have a low...
- Recast Definition & Meaning - Merriam-Websterverb. re· cast (ˌ)rē-ˈkast. recast; recasting. Synonyms of recast. transitive verb. : to cast again. recast a gun. recast a play. also : remodel, refashion. recasts his political image to fit the times. ˈrē-ˌkast. (ˌ)rē-ˈkast. noun. Synonyms. alter. change. make over. modify. redo. refashion. remake. remodel. revamp. revise.
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