Refinancing is one option if you want to lower your monthly mortgage payments, but it’s not an easy or cheap one by a long shot. It can often take a few weeks or even a month to complete. If all that sounds like too much hassle — and you have a bit of cash on your hands — recasting your mortgage may be a better option. Here’s how a mortgage recast can help you reduce your mortgage payments and pay off your home loan faster. In this article: What is mortgage recasting? A mortgage recast involves two step ...