Recasting mortgage payments is a little-known gem when it comes to homeowner finances. It’s often viewed as a method to lower monthly payments without extending the length of your loan term. But what exactly is mortgage recasting? Are there any disadvantages to it? What about my interest rates? Will my overall loan balance increase or decrease?
Here’s a quick guide to understanding mortgage recasting and whether it’s right for you:
When a homeowner recasts their mortgage, they pay off a lump sum of their current loan balance to redo the amortization of their monthly mortgage payments. When their monthly payments are put up to be amortized again, it simply breaks down the remaining balance of the loan - after the lump sum payment - into more manageable mortgage payments.
The loan itself doesn’t receive any special treatment like new loan repayment terms or interest rate adjustment. It simply breaks the remainder of the loan down into new monthly payments, while everything else stays the same.
As with most financing or loan options, there are a few drawbacks. The biggest one is producing the lump sum of cash to qualify for and cover recasting your mortgage payments. This requirement is typically set by your lender, who will also charge a small fee to recast the mortgage balance.
Apart from needing a large sum of cash, your interest rate is likely to stay the same. This can be both a pro and a con, depending on your mortgage’s interest rate.
If you were hoping to stretch out your payments for a little longer, and possibly lower them further, recasting mortgage payments may not be for you. When a mortgage is recast, the loan repayment term stays the same, and the amount of the monthly payment is directly related to the lump sum payment.
Your principal balance will decrease by the lump sum payment amount. For example, if you have approximately $175,000 left on your principal balance, and you pay $25,000 for your recasting, your principal balance will decrease to $150,000. Your monthly payment will then come from your new principal balance over the remaining life of the loan.
Recasting mortgage balances is a great way to save a little extra cash over the rest of your loan’s life. However, it’s best to discuss your financial situation with your mortgage lender to ensure they offer mortgage recasting, since many providers may not.
Hi! We are David and Evelyn - The Hickox Team!
With a shared passion for helping people find where you truly belong—whether it’s a dream home or a strategic commercial space—we’ve combined our experience, heart, and hustle to better serve you, as our client across the Chattahoochee Valley.
David brings sharp negotiation skills and market insight, and I bring creative strategy, relationship-driven service, and a love for both Residential and Commercial real estate. Together, we bring a perfect blend of strategy, service, and savvy, to elevate every step of your Real Estate journey.
We believe that real estate is not just about property—it’s about people, purpose, and possibility.
If you’re buying, selling, investing, or just want advice—we’re here for you.
-TheHickoxTeam
Every Home Begins with 'H"
Keller Williams Realty River Cities
Meet David
"When I think of dedication and drive in Real Estate, I think of David Hickox. Not only is David my professional partner, he’s also my fiancé — which means I get a front-row seat to the determination and care he puts into every property detail and client interaction."
-Evelyn Forston
I’m David Hickox—a dedicated real estate advisor serving the Chattahoochee Valley with a focus on results, relationships, and real value. My approach is grounded in strategy, honesty, and a deep respect for the goals and dreams of every client I work with.
I bring sharp market insight, strong negotiation skills, and a calm, solutions-focused mindset to every transaction. Whether you’re buying your first home, selling an investment property, or expanding your portfolio, I’m here to make the process smooth, strategic, and successful.
As co-lead of The Hickox Team with my fiancé Evelyn—an incredible Realtor and partner in every sense—we combine our strengths to deliver a real estate experience that’s both heart-led and results-driven. Together, we bring creativity, clarity, and commitment to the table every step of the way.
Outside of real estate, I enjoy staying active, watching the Braves and SEC football, working out, spending time with family and my sweet fiancé, Evelyn.
Let’s connect—I’d be honored to help you take the next step with confidence.
Call me at 912-596-4261
Meet Evelyn
Hi, I’m Evelyn Forston —a people-oriented, house-obsessed, dog-loving soul!💛🏡🐾
I'm a Realtor, Advisor and Associate Broker serving both Residential and Commercial Real Estate clients across Georgia and Alabama. I believe Real Estate is more than closings and contracts—it’s about connection, service, and walking with people through some of life’s biggest milestones.
I don't just sell properties—I shepherd people through meaningful life transitions with my professional partner, who is also my fiancé- David Hickox.
Whether I’m helping a family buy their first home, assisting an investor with a new commercial venture, or supporting someone in a major life transition, I treat every client with care, strategy, and heart. My experience spans residential and commercial sales, multi-family, single-family, and property management—which means I can offer smart advice, creative solutions, and real results.
I grew up in the Chattahoochee Valley and proudly graduated from both Brookstone School and Columbus State University. I love this community deeply and it shows in how I live and serve. I’m a 2022 East Alabama Leadership graduate, a 2025 “star” for the Alzheimer’s Association Dancing Stars of Columbus, a member of the East Alabama Board of Realtors, and I serve as the 2025 Entertainment Committee Chair for the Columbus Board of Realtors.
I live, work, and thrive in the Columbus, GA / Phenix City, AL area with my fiancé and real estate partner, David Hickox and my two pups, Cupcake and Aubs. We love helping people turn dreams into keys and investments into income.
Call me at 205-901-6756
💫 Explore what’s happening in the area:
Chattahoochee Valley Living Calendar
#ResidentialAndCommercial #RealtorLife #Teamwork #YourNextMoveStartsHere
Keller Williams Realty River Cities-Official
