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How can a person lower their FIXED APR monthly mortgage payment?

Asked by boettiger (123points) August 15th, 2008

OTHER than the following:

- Refinance mortgage at a lower interest rate
– Refinance mortgage at a variable interest rate promotion that ultimately increases or has a balloon payment

Other than the above, are there any other creative ways to reduce a person’s monthly mortgage payment? What about pre-paying taxes and insurance so it is no longer included in the monthly payment?

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