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2. Mortgage recasting: What it is and how it works - AOL

   www.aol.com/finance/mortgage-recasting-works...

   Recasting a mortgage: Recasting allows you to keep your existing loan, but adjusts the amortization. You can’t get a lower interest rate or a shorter loan term with recasting, but if your ...

3. When should you refinance your mortgage? - AOL

   www.aol.com/finance/when-to-refinance-mortgage...

   By refinancing, you’d save about $220 on your monthly payments and nearly $30,000 in interest payments over the life of the loan, and it would take you about three years to recoup the closing ...

4. What happens when you pay off your mortgage? - AOL

   www.aol.com/finance/happens-pay-off-mortgage...

   Paying off your mortgage means that you have 100% equity in your home and no longer have to make monthly loan payments to your lender. Once your loan is paid off, you’ll have to pay your home ...

5. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   The major variables in a mortgage calculation include loan principal, balance, periodic compound interest rate, number of payments per year, total number of payments and the regular payment amount. More complex calculators can take into account other costs associated with a mortgage, such as local and state taxes, and insurance.

6. Negative amortization - Wikipedia

   en.wikipedia.org/wiki/Negative_amortization

   Considering that raising a rate 1% on a mortgage at 5% is a 20% increase, the NegAm can grow quickly in a rising market. Typically after the 5th year, the loan is recast to an adjustable loan due in 25 years. This is for a 30 year loan term. Newer payment option loans often offer a 40 year term with a higher underlying interest rate. Life cap

7. When should you refinance your mortgage? - AOL

   www.aol.com/finance/refinance-mortgage-152541677...

   The new loan would trim your monthly mortgage payment to $1,859 per month, giving you an additional $107 of wiggle room in your monthly budget. Over the life of the loan, you’d pay $334,756, of ...