I haven't hit 40 yet but I've been paying mortgages for almost 20 years. This story was news to me, the first I had ever heard of it! The New York Times tells of "A Little-Known Strategy for Cutting Mortgage Payments". I admit I was fascinated, enough so to share this with you. The way it works is you negotiate with your mortgage company to re-amortize your loan after plunking down a substantial amount of cash in a lump sum. There are no closing costs or rate changes. The loan is simply "recast" and you save on your monthly payment and overall interest costs over the life of the loan. The next obvious question would be: Where the heck am I going to get a lump sum of cash to plunk down? Well, it might sound ridiculous but imagine getting a sizable tax return or an inheritance. If your goal is to pay down your mortgage and save thousands in interest, this might be your thing. Of course there are caveats and fine print like considering your current rate and whether or not your mortgage company will even cooperate. Read the full story here! I'm curious to know if I'm the only one who didn't know. Have you ever heard of this? Has anyone actually tried this? I'm a real estate junkie so I'm dying to know and would love to discuss!