"Re-amortization requires borrowers pay off a lump sum of the principal amount on the mortgage and asking to have the monthly payments reset according to the original interest rate and loan terms. The lump sum reduces the principal, so the new monthly payments decrease slightly and interest paid over the life of the loan is reduced. • Lenders typically charge an administrative fee of $150 or more to re-amortize...."
Shan SaigalBroker-Referral Realty Silicon Valley
Direct: 408-505-9302 /Dre#00768704
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