Josten

“Dear Steve,

I need some advice on how to lower my mortgage bill payment. We have to pay too much money, monthly just to keep this house.

My family can’t pay this much and we may have to sell our home. Please I need some advice. How do I lower my montly mortgage bills to keep my house. I don’t want to lose my home and hurt my family What should I do in this situation?

Josten”

The Answer

Dear Josten,

The reality is that the only two ways to reduce your mortgage payment would be to refinance the mortgage, replacing the old mortgage with a new mortgage, or to see if your current lender will modify your mortgage.

Either contact a mortgage broker to see if you qualify for a replacement mortgage or contact you mortgage company and ask about loan modification options.

Whatever you do, there is no need to pay a mortgage modification or foreclosure rescue company to help you with your lender. It is a waste of money and becoming illegal in many states.