Mortgage recasting lets you reduce your mortgage payments and total interest by paying a lump sum toward your loan principal. When you recast a mortgage, your interest rate and loan term stay the same ...

If you’ve received a large tax refund, you might consider putting it toward your mortgage as a lump-sum payment. If your payment is large enough — typically $5,000 or more — you may qualify for a ...

When you take out a mortgage to buy a home, your monthly payment includes two basic components: principal and interest. Most mortgages have a fixed repayment schedule in which the payment amount stays ...