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Reply to "200k - mortgage or market "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you want to stay in your house at retirement and you cannot afford to pay the current mortgage amount once you retire, it seems like recasting the 200 is a good idea to lower the payment right? I’m not sure why people aren’t seeing it that way. Welcome someone clarifying.[/quote] I guess if they can’t afford bit could afford the new payment that would make sense, but it won’t shorten the loan period. They’d probably be better off putting it towards principal and being done with the loan sooner. [/quote] They could always recast and continue paying extra each month. [/quote]
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