They will not reduce your mortgage payment. The only way to reduce it is to refinance. A refinance is getting a new mortgage on your house with better (at least that is the goal) terms including a better interest rate and lower payments. If you do not have the money to refinance to pay closing costs, etc. then you should either list your home with a realtor or sell it to an investor. I suggest you list it first because even if your home is not sold and you start getting backed up on mortgage payments and the bank starts to foreclose on you it is easier for an investor to negotiate a short sale with the bank (it's more proof you're in duress). If you have any questions feel free to contact me on my company phone number at 888.605.9190. I specialize in situations like yours and I'll let you know what your options are.

Best of luck,
Will Robles

888.605.9190
will@firstcasasolutions.com

They will start foreclosing. Don't let this ruin your credit. Please call me so we may discuss this matter further.

My cell is 917-497-0729 or email me to Henry@HenryCunalata.com

Regards,
Henry

Leonora,

8.25% is extremely high even in this challenging interest rate environment we have today. Please get in touch with me if you want to talk about options available to you.

jturnquist@guardhill.com