Ask Stacy: How Can We Lower Our Mortgage Payments?

If you can refinance a $200,000, 30-year mortgage from 7 percent to 4 percent, you’ll end up $135,000 richer. But refinancing these days is a minefield. Wouldn’t it be nice if you could pick up the phone and call an expert for free help to get it done? As it happens, you can. Here’s some advice and an 800 number.

Mortgage Refinancing Help Ahead?

If you can lower the interest rate on your $200,000 30-year mortgage from 6 percent to 3.5, over the life of the loan you’ll keep $100,000 that would otherwise have gone to your lender. Don’t have good enough credit or enough equity to refinance? If the White House has its way, there’s help ahead.