Is your mortgage considered 'refinanced' if you did 'Principal Adjustment' (aka recast: paid off some principal without rate change mainly to reduce monthly payment)?

[Vanessa · Accepted solution]

Yes, that would be considered a refinance since the terms are a little different (lower payment) however this will not affect anything since you did not take cash out to use for anything else.  So you will answer yes to did you refinance and no (unless you did) to did you take cash out.  

[dwbeacon]

Thanks for the info!