Q&A: How can I lower my mortgage payment?

Question by Nick B: How can I lower my mortgage payment?
We own a house, we originally paid 160K for and now owe about 147K. We have a 6.75 fixed intrest rate for 30 years. We would like to refinance, but we have lender paid PMI, and so far our options havent been saving us more than 100 dollars a month. We are currently using a broker, should we try a bank. Also, should I consider contacting my current mortgage company? We have no change in income, but apparently got in over our head with debt.

Best answer:

Answer by Zarg222
depending on when you bought it, it might be worth less than you owe (like my house bought in 2006), thereby preventing you from refinancing at a lower interest rate(like me)

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