Had a similar experience when I brought up recasting with my lender. It was like I'd asked about some obscure financial loophole they'd never heard of. They paused awkwardly, then quickly steered the conversation back to refinancing, complete with the usual spiel about "locking in those historically low rates."
Funny thing is, I actually did end up refinancing—but only after crunching numbers obsessively for weeks. I built this elaborate spreadsheet comparing recasting vs refinancing, factoring in closing costs, interest savings, and even potential tax implications. (Yeah, I'm that person.) Turns out refinancing genuinely made more sense for my situation, but only because I planned to stay put for at least another 7-10 years. If I'd been thinking shorter-term, recasting would've been the smarter move.
One thing I learned through all this is lenders definitely have their preferred products. Refinancing usually means more fees and commissions for them, so naturally they're inclined to push it. Recasting, on the other hand, is usually just a small administrative fee—no big payday there. So it's not surprising they act clueless or dismissive when you bring it up.
Bottom line, you're spot-on about doing your homework first. Lenders aren't necessarily misleading you outright, but their incentives don't always align perfectly with yours. Always pays to run your own numbers and trust your gut before signing anything.
Had a similar run-in with my lender when I brought up recasting—got the deer-in-headlights reaction too, lol. Ended up refinancing after a spreadsheet marathon, but yeah, lenders definitely push what benefits them most. Always gotta crunch your own numbers first...
Went through something similar myself—lender acted clueless about recasting, so refinancing was my best bet too. Curious though, did you factor closing costs into your spreadsheet marathon? Those fees can sneak up on you...
Yeah, those sneaky closing costs are no joke...but honestly, they're not always the deal-breaker people make them out to be. I've seen plenty of cases where refinancing—even with those pesky fees—still ended up saving folks thousands in the long run. Sometimes it's less about the upfront sticker shock and more about the big-picture savings. Still, your spreadsheet marathon comment cracked me up—been there, done that, got the caffeine jitters to prove it.
"Sometimes it's less about the upfront sticker shock and more about the big-picture savings."
Totally agree with this. I've had deals where the closing costs made me cringe at first glance, but after crunching numbers (and downing way too much coffee), refinancing still came out ahead. Glad I'm not alone in spreadsheet purgatory...
