So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

Or would it be the total equity - so the difference between 450k and remaining mortgage of 120k?

The number one problem with RentRedi is the total lack of customer support and yes with Intuit you will have to talk to an oversees call center but every question I needed help with got answered and all problems got resolved.

Mortgage recasting is a great option for homeowners who:Have received a windfall, such as a bonus, inheritance, or proceeds from selling another property.Want to lower their monthly payments without extending their loan term or going through the hassle of refinancing.Are satisfied with their current interest rate and loan terms.How to Get StartedIf you’re considering mortgage recasting, here are the steps to take:Contact Your Lender: Ask if they offer mortgage recasting and confirm your loan’s eligibility.Determine the Lump Sum Amount: Decide how much you can afford to put toward your principal.Calculate Potential Savings: Use an online mortgage calculator or consult with your lender to estimate your new monthly payment and total savings.Submit the Request: Once you’ve made the lump sum payment, your lender will process the recasting and provide a new payment schedule.Final ThoughtsMortgage recasting can be a powerful tool for homeowners looking to reduce their monthly payments and save on interest without the cost and complexity of refinancing.

@Marc Shin,Totally agree with what Alberto stated above.

You will need probably 20% of total cost (Not including financing costs. 80% LTC) as the down payment.

Basically, the more you ask for relief as a percentage of the total, the harder it will be.You will need to show a hardship that you did not create.

Quote from @Ryan Brown: Quote from @Mohammed Rahman: Hey, I totally get where you're coming from.

The Note/Mortgage for each loan states the dollar amount invested & the % of the total loan by name, for each investor. 

An other advantage of paying with credit card may be that you will not have to send the provider a 1098 tax form (only an issue if the total yearly amount is over $800).