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Should I pay down my mortgage with recast option or make extra payments over time
Should I pay down my mortgage with recast option or make extra payments over time So I just took out a mortgage for a jumbo loan because it saved me a 1/4 pt. My interest rate is 6% and my balance is $766,551. I planned to pay it down to $500,000 and recast (restart the loan at the new balance and same interest rate) by submitting a $266,551 payment and a $250 recast fee. Should I proceed with this or should I hold onto the m...
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