Up until a few months ago I did not know that you could pay less on your mortgage bill. I never even gave it a second thought. I figured all those papers I signed when purchasing our home were permanent for 30 years.

There are actually several different options available to you to save money. They are called loan modifications. The first thing I would recommend is to call an organization called HOPE at 888-388-4673. This organization is an advocacy group for people who want assistance with anything related to housing.

I wish I had known about this group in my own quest for lowering my mortgage payment. It would have saved me a lot of time ! Just tell them what your question is, and they will answer it.

The program that I personally used is called HAMP. This mortgage modification is for those who have had their wages reduced. 

If you don’t call HOPE than just call your mortgage company, and tell them you want to apply for a loan modification. Ask them if they can email the documents. I say this because I had mine snail mailed to me and it took almost 3 wks. After about 2 weeks, I called and told them I hadn’t received the packet. Then they emailed it to me. I went to my local library and had the documents printed out. It is about 20 pages.

It’s pretty self explanatory and very detailed so you know exactly what you have to fill out. If you are having any issues with anything, call HOPE and they will assist you every step of the way ! They will even 3 way calls with you and the mortgage company.

Once you’ve filled out all the paperwork, send it two day shipping from your post office. It cost me $5.95, but the reason you want to do this is you have shipping confirmation. This way they can’t say it got “lost in the mail.” The other option is to fax it. Just ask when you’re on the phone with your mortgage company if you can fax it. This way once again you have proof just in case they tell you they didn’t recieve it.

Than you just have to wait and see if you’ll be able to pay less on your mortgage bill.

I ended up being able to save $68 on my mortgage payment. Not to shabby just for filling out some paper work.



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