Did you know you can "recast" your mortgage? It's a lesser-known option that could save you thousands.
Unlike refinancing, recasting isn't a new loan. If you come into a lump sum of cash (like a bonus or inheritance), you can put it directly toward your principal. Your lender then re-amortizes the loan, which lowers your monthly payment while keeping your interest rate and loan term the same. It’s a fantastic way to improve your monthly cash flow without the closing costs and paperwork of a full refinance.
Always check with your lender first, as not all loans are eligible.
Curious about more mortgage strategies? Send me a message! I'm here to help you navigate the process.
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