Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan...

A mortgage recast is a way to lower your mortgage’s monthly payment. If you commit to making a larger payment after the recast — say the same amount you’re paying now—you can also potentially pay off your mortgage early.

A mortgage recast is a way to lower your mortgage’s monthly payment. If you commit to making a larger payment after the recast—say the same amount you’re paying now—you can also potentially pay off your mortgage early.

What is it? A schedule that breaks down how principal and interest are applied with each monthly payment throughout the life of a loan. Usually provided at Closing. Where is it? Located near the bottom of the Payments page in your online acco...

Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan. Since you are paying down your principal by a large amount, your monthly payment will be lowered, but your interest rate and loan ter...

If you’re facing a long-term hardship, we can review you for a loan modification to determine if more manageable terms are available. While refinancing means replacing your existing loan with a new one, loan modification keeps your existing loan and changes its terms.

Mortgage Recast. What Is It? Recasting a mortgage happens when you put down a lump-sum payment toward the principal balance and the lender re-amortizes the loan.

Homeowner Assistance Fund (HAF) is a government-sponsored initiative managed by the Department of Treasury to offer assistance for homeowners impacted by the COVID-19 Pandemic that began in 2020.

In the days leading up to closing day, your lender will send you a Closing Disclosure, which outlines what you need to pay at closing and summarizes your loan details. You’ll also need to share various mortgage documents required by your lender.

If you’re a Mr. Cooper customer, you can check your eligibility and submit a recast request in our Help Center’s Mortgage Recast article.