This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

The home was built in 2006, great neighborhood, close to the highways, close to everything new that is being built, close to a military base.

House was purchased August 2024 6k sq ft 9 bedroom distressed home for 66k ARV around 330k in the middle of renovations all of the sudden the bank accounts are frozen and we now have no funds to finish renovation.

Most likely it would be around 150kish - so why pay 180k for a 150k home in that instance?

The returns were OK, but nothing to write home about. 

Would the buyers/borrowers be purchasing with the intent of putting a mobile home on the property and making it their primary residence?

We have secured a home equity loan against our home (which we own out right with no mortgage payment).

I would focus on homes with dysfunctional floor plans.

If you live in the home for 2 out of the past 5 years and move out of state you may be exempt from the tax.  

Better than underground homes which have issues with moisture etc.