Tag Archive for: mortgage recasting

Recasting or Re-Amortizing a Mortgage – Misconceptions & No Guarantees!

Now that our bridge loans are becoming so popular, we are having a lot of conversations with borrowers about recasting. Recasting = Re-amortization of Mortgage After a Lump Sum Paydown […]Read More

Re-Casting or Re-Amortizing Mortgages When They’re Paid Down

Most lenders allow borrowers to re-cast or re-amortize their mortgages when they pay down the principal balance. For example, Bob might have a $600,000 mortgage at 3.5% with payments of […]Read More

Recasting Mortgage By Paying Down Large Portion of Principal

“Recasting” a mortgage refers to the modification of the promissory note and the reduction in monthly payment when a borrower pays down a large portion of his mortgage. The interest […]Read More