🤔Is Mortgage Recasting A Smart Move? #recast
Dec 11, 2024•55 sec
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Episode description
Mortgage recasting allows you to make a large lump-sum payment toward your mortgage balance, and your lender will reduce your monthly payment. The key here? Your loan term and interest rate stay the same. It’s different from refinancing, which replaces your loan, typically to get a lower interest rate or change your loan term, but refinancing can cost thousands in fees.
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