Posts made by author 'Otis Craig, Broker'
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22
Lower Your Monthly Payment Without Refinancing: The Power of a Mortgage Recast
Lower Your Monthly Payment Without Refinancing: The Power of a Mortgage Recast
You just received a significant bonus from work, or perhaps a small inheritance came through. Your first thought is to put that cash toward your mortgage. For many Bend homeowners, the immediate assumption is that making a large principal payment will just shorten the loan's lifespan. But what if you'd rather lower your monthly bill instead of just paying off the house a few years earlier?
There's a little-known financial tool that does exactly that, and it's become incredibly relevant for anyone who locked in a great interest rate a few years ago. It's called a mortgage recast, and it might be the smartest financial move a Bend homeowner can make right now.
What Exactly Is a Mortgage Recast?
A mortgage recast, or re-amortization, is a refresh of your existing loan. It's a process where you make a substantial lump-sum payment toward you...
20
Bend With Your Best Friend: A February Walking Itinerary
The air in Bend has a particular bite in February. It's sharp and clean, carrying the scent of Ponderosa pine and woodsmoke. While many visitors have their sights set on Mt. Bachelor's slopes, some of the city's best winter moments are found right here in town, on foot, with a four-legged companion by your side. Visiting with your dog isn't just possible here; it's an integral part of the local culture.
But a successful winter day requires more than just a leash. It needs a plan that balances invigorating exercise with essential warm-up breaks. Here is a blueprint for a perfect February day spent exploring Bend's urban trails and neighborhoods with your dog, crafted from years of walking these same paths.
Morning on the Deschutes River Trail
Start your day where the city's heart beats strongest: along the Deschutes River. The in-town section of the Deschutes River Trail offers a stunning and accessible walk, even when there's a dusting of s...
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