I Need to Lower My Mortgage Payment. – 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.

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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?


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.

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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