In this week's episode of Beer and Money, Ryan Burklo explains the concept of mortgage recasting — a lesser-known alternative to refinancing. He walks listeners through a scenario in how this process works. While not available through all lenders (especially federal loans), mortgage recasting can be a valuable strategy for those looking to improve cash flow or prepare for retirement without refinancing at a higher interest rate.
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Takeaways
- Definition of mortgage recasting
- Recasting provides an alternative to refinancing
- Recasting keeps your interest rate intact
- There are restrictions depending on your individual situation
Chapters
- 0:00 Understanding Mortgage Recasting
- 2:49 Practical Applications and Benefits of Recasting
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