08/10/2026
I woke up thinking about achieving financial freedom. How much do I need to make a month to retire in the future?
First thing that came to mind was my mortgage… Thinking maybe refinancing to save a few bucks…. But have you considered a mortgage recast? 🏡
Here’s a gist of it: a loan recast allows you to make a large payment toward your principal, then your lender recalculates your monthly payment based on the lower balance without replacing your existing loan or changing your interest rate.
Lower payment. Less monthly pressure. Saves money on interest.
The plan is to put a percentage aside and make a lump payment then recast. I can do this every single year for a $250 fee. Why not?
Is this something you’d consider ?
Ask your lender if your loan qualifies for a recast!