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.
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.