We just recast our loan on our new house, Mel. We bought last August but didn’t sell our old house until the end of November. We made a sizable profit on that house and took that chunk of money and put it on our new mortgage. It dropped our payment by $1300 a month. We still have a 30 year mortgage and the interest is still the same, but the payment is affordable on our SS now without having to dip into our retirement savings. Our mortgage broker told us about the recast option when we were going through the loan approval process. Not all loans offer this option but fortunately ours did.