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Should we recast our mortgage or pay it off sooner?
Should we recast our mortgage or pay it off sooner? In July 2023 we purchased a home with a $430,000 mortgage at 15% down and a 6.5% interest rate. We sold our home and planned to use the $100,000 gross from the sale to put towards our mortgage balance immediately, and have our payment recast. Our interest rate would not change; they would just spread the new balance across the remaining life of ...
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