Mortgage recasting, also known as re-amortization, is a process that allows homeowners to lower their monthly mortgage payments by applying a lump sum toward their principal balance.

@Thomas Youngman are you looking to get an RE meetup going in PT?

@Andrew Kiel: Re: "With one small exception on VA loans, there is no getting around the due on sale clause" What have you run into with VA loans?

Location is key (just like all of RE :-)I've done 2 STRs and did quite well, but I did everything myself...and had great locations for each.

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

Although i do think there is more money to be made in RE than selling soap. 

Agree with what others have said re: overlap.  

and to a certain extent commerical RE Brokers

They have a bunch of free videos out there related to the Income Snowball and their new partnership with rent-to-retirement, and a very savvy "numbers person" could probably surmise and re-create the system on their own if they really want to be cheap. 

Everyone in this Industry at least who sells RE to Homeowners NOT investors knows the cycles and right now the cycle is MORE LISTINGS period nationwide.. then come about Nov.. people slow way down B/C of the holidays and in other markets winter is slow because weather is so snotty..