You'll likewise keep the original rate of interest on your mortgage. Prior to recasting your mortgage, remember to speak with your tax preparer or CPA to figure out the tax effect. Here's when you should think about recasting your mortgage. Using this windfall to your home loan helps decrease your month-to-month payments, which enables you to keep more money in your pocket each month.This might be due to a change to your earnings, assets or credit profile that avoids you from certifying for a new loan. This can likewise hold true in an increasing rates of interest environment, where it's impossible to refinance at a lower rate than your current mortgage. will require you to get a brand-new loan with a various structure, amortization schedule and rates of interest.