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<p>[QUOTE=&quot;Clawcoins, post: 3161074, member: 77814&quot;]Back to the topic of Mortgages real quickly.</p><p><br /></p><p>I recasted a short time ago.</p><p>I normally pay my mortgage up and above the monthly payment.</p><p>I&#039;ve now adjusted that process to just pay my mortgage payment, and then put the extra monies aside.&nbsp; </p><p><br /></p><p>When I get to the $5k savings&nbsp; of those extra monies (which is about 1-2/3 years) I&#039;ll just Recast my Mortgage again.</p><p><br /></p><p>The mortgage company has their monthly payments fixed, and thus the interest payment is fixed.&nbsp; As I pay the payment + additional principal it really does not affect the interest. The recast &quot;resets&quot; everything and lowers the interest+payment.&nbsp; My future recasts will get faster though as I do not plan on lowering my total monthly monies to my mortgage.[/QUOTE]</p><p><br /></p>

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