Question by John H: How can i lower my mortgage payments without refinancing?
I’ve heard from a friend that Obama came up with a new plan, anyone know what that is or about? Whats the right way to go to lower my payments without having to refinance? Thanks
Answer by bowke28
Despite the rumors, here is no “Obama plan”. anyone who says there is is full of crap. If you are behind in your payment, you may be able to negotiate a loan modification, but it’s rarely offered, and even more rarely finished. If you are in over your head as far as payments go, then selling or refinancing is your only option. Also, without knowing more details, there is not a whole lot of advice to give on this.
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