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.

I should have clarified that what I meant was that there are PMs out there that will do the most expedient thing and accept a tenant just to receive a quick commission.  

You can often get better rates with a national lender, but the customer service is non-existent, communication probably sucks, they may ask for the same documents multiple times, etc.

We work closely with the listing agent to get documentation and we start making aggressive, contingent offers on replacement properties as soon as the inspection contingency closes on the sale. 

What's the minimum amount you could receive that would make it worth doing the cash out?

ya Open door capital struggles are well documented..

IRS CP2000 Notice: Why Real Estate Investors Need to Think State & FederalQuick story that could save you thousands in tax exposure...Had an investor client who received a CP2000 notice for unreported rental income.

I assume you would have to pay cash, because you have to spend all cash received to avoid taxes.

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

Make sure you receive PRINCIPAL plus interest each month (loan amortization) so that you  will receive $3226.72 each month for 36 months.