Mortgage Recast, Explained!

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"Mortgage Recast... What is that?!?"

Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand.

Today we are talking about the Mortgage Recast, which has to do with being able to lower your monthly mortgage payment without changing the terms of your loan.

The Mortgage Recast is a great way to take advantage of making a large lump sum payment on your existing mortgage without having to pay the usual fees during refinancing.

If you are looking to lower your monthly mortgage payment and have never heard of a Mortgage recast, this video is for you!

Tune in and get your financial I.Q. up!

Accounting to Scale is dedicated to the betterment of the community through financial education. Please leave any topics you wish to learn about or feel should be talked about in the comments below.

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So a recasting will lower my monthly payment but i restart the 30 year period even if i paid the mortgage already for 5 year?

kc