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re structuring payment after applying a lump sum

i am refinancing my home and will have a sum of cash to put on my CP. will i be abkle to restructure the payment amount . based on a new balance

Posted from: Alberta

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One Response to “re structuring payment after applying a lump sum”

A licensed trustee said...

Certainly – what you are suggesting is a lump sum pre-payment. All you need to do is ask your trustee to recalculate your payment based on the remaining balance to complete the proposal in the same amount of time as you originally planned. Or you could keep pick a higher number than that for your payment and finish the proposal early. Give your trustee a call to discuss this…