You know about refinancing. You know about mortgage modifications. But, have you ever heard of recasting? While it was once a popular way to adjust a home loan so borrowers could afford to make the monthly payments, recasting is now one of the best kept mortgage secrets. While recasting does not change the interest rate or the balance of the home loan, it does re-amortize your mortgage, which can potentially reduce your monthly payment. The catch is that it often costs the borrower money—sometimes as much as $5,000 in up-front fees.