u/NewVersion1771

Trying to get multiple opinions before proceeding. We owe about $100k on our house and I would like to Recast with $10k down and $250 service charge. We have an emergency fund and have the $10k. Options are: 1) Make a large, one-time payment and retain our current payment OR 2) Recast, dropping the loan to $90k, and lowering our payment.

I understand recasting essentially just lowers our payment. However, my thought is to Recast and then continue paying the original monthly payment with the difference going straight to principal.

Thoughts?