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Does recasting a mortgage reduce interest paid monthly?
Does recasting a mortgage reduce interest paid monthly? I'm wondering if it makes sense to recast a mortgage but keep paying the same amount? All I can find is generic responses saying recast lowers payment. My goal is to pay as little interest as possible. Example: $200k remains on loan. Current payment is $1300 but paying $1600 so the extra $300 goes to principal. I have $10k for lump deposit. Let...
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