By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

I see you are located in Royal Oak, that is the area we've actually been looking at as I'll be based in Warren at the Arsenal. 

Following - I'm based in California 

The rule is based on if it's "within the primary dwelling unit" of the taxpayer or not. 

People were so quick to say he was way off base.   

So, here are the basics based on my market, which is AZ.  

I have been branded as just no-fact Cryer to undermine my valid experience based on technically of junior partner, old company etc.

Reaching out to the community to make sure I'm not off base here to immediately think to decline this offer.  

I would need to consult tax consultant for this however I expect to reduce my effective costs by ~$1,495/month (based on a 32% tax bracket).2.

As to your point about confusion in the future, it's our policy to leave the conversation and thread open and available for anyone to read, they can gather all of the information and make an informed decision for themselves based on ALL the information provided.