Tag Archive for: recast your mortgage

DON’T Pay Down Your Mortgage With Lump Sums; Here’s Why

Yesterday, I blogged about “recasting” or re-amortizing a mortgage after a lump sum paydown. And a friend of mine who runs a major mortgage company on the East Coast (Craig […]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