I purchased a home in April of 2006 with two 30 year fixed 80/20 loans. How can I lower my total monthly payment to a more managable amount?
2007-01-24 07:37:31 · 4 answers · asked by That Guy 2 in Business & Finance ➔ Personal Finance
Look into lending institutions with lower interest. You may also be able to refinance, tho with less than a year behind you, that may not help. Your best bet is to get the current lender to lower interest rate or look for a bank who has a lower rate. Go to LendingTree.com for some quotes
2007-01-24 07:42:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Try to refinance at a lower interest rate.
If you have 2 80/20 mortgages out you probably owe more than the house is worth.
2007-01-24 16:29:46 · answer #2 · answered by parsonsel 6 · 0⤊ 0⤋
Pay extra on the second mortgage. That is the smaller of the two and usually the higher interest rate. If you can pay that one off, your monthly payments will be less.
2007-01-24 15:47:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Pay it off.
2007-01-24 15:44:30 · answer #4 · answered by da_hammerhead 6 · 0⤊ 0⤋