Advice on recasting · Rental Property Playbook

Advice on recasting

Hey guys my name is Daniel, I am new to the group and I was wondering if any of you guys have ever done a recast on a home loan. I Currently have one rental property in Menifee, CA. my mortgage is $3800 and I am renting out for $3199 because of the current rent market in the area. I’ve looked into refinancing my property but it does not benefit me currently because I have a %3.99 interest rate. I had a neighbor advice me on recasting my loan but I haven’t really had any luck on finding information on that and want to educate myself on it to see if it’s possible to lower my payment with out having to mess with my interest rate. Any input would be greatly appreciated!

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Advice on recasting