Desiree Rejeili
Understanding Mortgage Recasting: What Homeowners Need to Know
22 January 2025 | 0 replies
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.
Jonathan Greene
Why You Should Never Take a Break as a Real Estate Investor
3 February 2025 | 31 replies
I'm now figuring out how to maximize the return on current properties and add value, efficient ways to self manage, etc.
Sarah Rilling
What Questions To Ask When Joining A Mentorship Program?
24 January 2025 | 3 replies
Do they currently have a multifamily investing company that is successful.2.
Grant Kaus
New Investor Looking for Advice, Networking, and Work Related to Real Estate
5 February 2025 | 6 replies
I am currently working in consulting so would be unable to provide full-time work, but I would be available for part-time work.
Kyle Dennis
Maine REALTOR, New to BP!
30 January 2025 | 5 replies
I've been a licensed agent here in Maine at the Augusta-based Pouliot Real Estate for the last 2 years, but began my real estate career in Savannah, Georgia (my GA license is currently inactive).
Jeanette Land
Next move for investment
21 January 2025 | 4 replies
Hello, I live in southeastern Wisconsin and currently have a long-term duplex in Wisconsin.
Fetch Phoenix
Bought in a Fire Prone Area, should we sell and consider renting?
1 February 2025 | 7 replies
@Fetch PhoenixI'll add something that may apply....your current policy may already exclude wind and/or fire, which means that you could already be without protection.
Paul Lucenti
How’s this market?
28 January 2025 | 0 replies
I currently live Levittown and a house around the block from me is on the market for 1.5m.
Geoff McFarlane
Sell our home or rent it out?
20 January 2025 | 7 replies
Hi Geoff,In my opinion, keeping your current home as a rental property could be a smart move.
David Pope
Trash removal costs and reserves for 22 unit commercial building in Dublin, CA
4 February 2025 | 2 replies
Also, I see about $30k going to the reserves each month, which is currently at $650k.