Retired and recasting vs prepayment We are both retired. We purchased a new home with a significant mortgage ($560K). We just sold our old house and now are in a position to pay off $500K of the mortgage, leaving some money for improvements on the house we bought. We have been planning to recast the mortgage to achieve a lower mortgage payment. This raises several questions: * Is …

Rental Property Mortgage Prepayment Would like to hear different views and perspectives on the following situation: – One of my overseas rental properties has a 3Y fixed rate mortgage which turns floating next year. This will effectively add something around 450bps to the mortgage’s cost if rates stay where they are today (that’s another debate, but let’s focus on what can be cont…