What Is A Mortgage Loan Recast?

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Real Estate Agent with Fillmore Real Estate 2990 Av U, Bklyn , NY 11229

 

Mortgage Loan Recast refers to a change in the mortgage principal or a change in the length of the time left on the mortgage.

A loan recast occurs when there is a substantial  payment made  towards the principal.  The lender recasts the loan by re-amortizing the remaining balance.  This usually lowers the monthly payments due and could reduce the time left on the mortgage.

 

Speak to you lender regarding this option.

 

When you are ready to buy or sell a home in Brooklyn New York , feel free to contact me. 

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Brooklyn Home Owners : Thinking of Selling your home and need to know  how much your Brooklyn Real Estate Home Is Worth , the price of Brooklyn homes for sale currently  on the market,  or simply how is the  the Real Estate Market in Brooklyn , and you are  looking for an agent who will List your Brooklyn Home For Sale,  give you personal service and showcase your    home  with maximum marketing  exposure to get  it sold :  Call me,  Michele Cadogan  at 917-861-9166  for a Free Market Analysis of  your Brooklyn New York Home .

Not ready to buy  and looking for a Brooklyn apartment to rent, call me @ 917-861-9166

 So, whether you are thinking of buying , selling or  looking to rent an apartment in Brooklyn, want to know how much  homes in Brooklyn selling for ,  want to know how is the Real Estate Market In Brooklyn  or  the price  of recently  sold Brooklyn homes in your neighborhood, call me at :

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Michele Cadogan,SFR

 

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www.brooklynhomesbymichele.com

917-861-9166

Fillmore real Estate

2926 Ave J, Brooklyn  New York, 11210

 

Licensed Real Estate Associate Broker

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Rainer
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Janet McCarthy
San Diego Homes Guide - San Diego, CA
Broker Associate

Never heard of a recast.  Thanks for sharng the information. 

Mar 26, 2011 04:09 AM #1
Rainer
52,777
Carla Wade
Charlotte, NC

This is interesting.  I never hear of this either.  Thanks.

 

Mar 26, 2011 04:12 AM #2
Rainmaker
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Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

Janet and Carla-   I briefly read about it in a post and decided to research it. 

Mar 27, 2011 12:19 PM #3
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Rainmaker
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