Healthy Living: Recast Your Repayment

Every loan agreement specifies the borrowed amount, the interest, and repayment period, but don’t be late on a payment.

According to Equifax, one late payment over 30 days could drop your credit score as much as 110 points.

Whitney Amann had the details about a Hollywood term that could help repay your loan in Monday’s healthy living.

Recasting is different from refinancing. Refinancing calls for borrowers to apply for a new loan and pay closing costs and appraisal, but if you qualify can get a lower interest rate and also save money.

For more information, watch the video above.

Categories: Healthy Living, the four