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.

IMO 6 months is nothing compared to other illiquid assets.

I'm a financial planner by profession so you'd think the default answer is, "heck yeah, always hire a planner!"  

Next up is a huge financial hit: closing costs.

And my only asset is that I am under 30, single and can move to any place to make my dream come true.

Financially, but also mentally. 

When I buy property, I am long assets. 

Quote from @Shawn Questa: Hi all,I am curious what some of the Pros would do to Help a Seller in this situation while making a Deal happen.I found a 200+ day old MLS Listing where the Agent said the Seller is in Financial Ruin, hasn't Paid the Mortgage in a year, owes about 180k on an approx. 210k House and multiple Buyers have backed out.I don't know how someone could not Pay their Note in a year and not at least be in Pre-foreclosure. 

All those people you perceive as broke ,financially illiterate or irresponsible live somewhere unless they are homeless.

If you are going to have this asset for a long time it'll be worth the peace of mind knowing its updated.