What is the best way to lower Mortgage Payments?

If by refinancing, what are the best places to refinance?


Do you recommend refinancing now?


Are there any other options to lower payments?What is the best way to lower Mortgage Payments?
If your credit and income has improved since you initially took the loan out then refinancing is your best option.


I do recommend refinancing now. With the market in the slump that it is in- banks are looking to keep foreclosures off of their books, so they will be more willing to work with you.


If you like the mortgage company you are with now then stick with them, they know your history and can make a more accurate decision on how to treat your specific case.


Also, Wells Fargo is very customer friendly. They have been around for a long time and aren't going anywhere in the near future.


Good luck!What is the best way to lower Mortgage Payments?
Has your credit score increase and/or still high.


No more than 2 late mortgage payments in the last 12 months? (over 30 days late) Are you now @ or below 80% Loan To Value (LTV) (no mortgage insurance)


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Nows a good time if your ready for it. Have you checked out your credit score? You can do that at MYFICO.com. The annualcreditreport.com site give you free reports but they don't come with a score.





Look at your reports and scores. If you are under 700, you may want to perk up your credit (FICO) score.





Borrowers who want to raise FICO score more easily than in previous years. Your credit score is often referred to as a FICO score because the software that produces the score was developed by the Fire Isaac Corporation, FICO. This company provided the basic factors used to calculate a credit score.





You can find out more at the site below.
depends on what you have now if you need a fixed rate and have good credit and good debt to income ratio now is a great time to refi rates are near 6% APR contact a licensed mortgage broker in your area and get pre approved should have at least a 680 score or above for the the best rate
40yr fixed....or longer term.


lower your interest rate


or get interest only.
We refinanced, got lower payments, longer pay off, but the finance rates were low, so we went for it. The monthly payment was dropped by a little over 350.00.





You need to do some serious shopping, and probably a decent consulting with a loan officer would help.
Anyone you feel comfortable with is the best person to work with. Find an experienced, licensed broker that can offer you several options. It's a good time to refi whille rates are still low.





Keep in mind however that a refi may not lower your mortgage payments, it will really depend on what type of program you go into and what your financial profile looks like.





Get a few quotes and see if it's worth it for you.