{"id":232,"date":"2018-12-14T10:09:30","date_gmt":"2018-12-14T10:09:30","guid":{"rendered":"http:\/\/mortgagemodificationri.com\/blog\/?p=232"},"modified":"2019-03-14T17:56:34","modified_gmt":"2019-03-14T17:56:34","slug":"how-to-lower-your-mortgage-payment-ri","status":"publish","type":"post","link":"http:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/","title":{"rendered":"How to Lower Your Mortgage Payment"},"content":{"rendered":"\n<p>With over 400 miles of coastline, Rhode Island, also\nknown as the Ocean State, is a beautiful place to live.&nbsp; In fact, some reports even name it one of the\nbest <a href=\"https:\/\/247wallst.com\/special-report\/2018\/11\/02\/americas-best-states-to-live-in-3\/9\/\">states<\/a>\nto live in.&nbsp; Further, some cities and\ntowns in Rhode Island are considered the best to live in throughout\nAmerica.&nbsp; For example, Cranston, Rhode\nIsland, has been ranked the <a href=\"https:\/\/www.golocalprov.com\/news\/cranston-named-one-of-the-best-50-cities-in-america\">34<sup>th<\/sup><\/a>\nbest city to live in across America <\/p>\n\n\n\n<p>Unfortunately, Rhode Island can also be a very expensive\nplace to live.&nbsp; The average housing cost\nvaries depending on where you look in the state, but in Providence, housing\ncosts are <a href=\"https:\/\/www.payscale.com\/cost-of-living-calculator\/Rhode-Island-Providence\">38%<\/a>\nmore than the national average.<\/p>\n\n\n\n<p>One way that you can reduce your housing expenses is by\nlowering your monthly mortgage payment.&nbsp;\nIf you haven\u2019t purchased your home yet, there are a few ways that you\ncan lower your mortgage.&nbsp; You can:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Shop around for the lowest interest rate so you\npay less in interest,<\/li><li>Shop around for the lowest closing costs, so you\npay less up front,<\/li><li>Put down a&nbsp;\nlarger down payment so your monthly payments will be less and you can\navoid paying private mortgage insurance (PMI),<\/li><li>Increase your credit score so that you can get a\nbetter interest rate,<\/li><li>Determine which mortgage type will be cheapest\nfor you (for example, adjustable rate versus traditional rate),<\/li><li>Buy a house that you can afford so the mortgage\npayments are a comfortable amount, and<\/li><li>Purchase your home in an area with lower real\nestate taxes so you pay less in taxes.<\/li><\/ul>\n\n\n\n<p>If you have already purchased your home, you still may be\nable to lower your mortgage payment.&nbsp; You\ncan:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Apply for a mortgage modification,<\/li><li>Refinance your loan,<\/li><li>Sell your home and find a more affordable\noption,<\/li><li>Shop around for a lower insurance premium rate,\nor<\/li><li>Get rid of your PMI.<\/li><\/ul>\n\n\n\n<p>Which method you choose to lower your mortgage payment\ndepends on your particular situation.&nbsp;\nFor example, you may not qualify for refinancing, or you may not have a\nlarge sum of money to put on your mortgage to get rid of your PMI.&nbsp; Further, you may not want to have to sell\nyour home and leave it.<\/p>\n\n\n\n<p>However, if you are experiencing a financial hardship,\nand want to lower your mortgage payment because you are having difficulty\npaying it, a <a href=\"http:\/\/mortgagemodificationri.com\/blog\/2019\/02\/07\/mortgage-modification-lawyer\/\">mortgage\nmodification<\/a> may be a great option for you.&nbsp;\nMortgage modifications work by taking your current mortgage, and\nchanging something about it so that the payment is more affordable for you.<\/p>\n\n\n\n<p>Although mortgage modifications can lower your monthly\nmortgage payment, they don\u2019t always lower your mortgage payment.&nbsp; However, mortgage modifications can also be\nhelpful in other ways.&nbsp;&nbsp; If you want to\nstay in your home, a mortgage modification can help you avoid foreclosure, or\nhaving a short sale.&nbsp; If you are behind\non your payments, a mortgage modification can help you become current without\nputting a large amount of money upfront.<\/p>\n\n\n\n<p>Applying for a mortgage modification takes a lot of time,\ninvolves a significant amount of paperwork, and not everyone is approved.&nbsp; Because of this, many people choose to hire a\nmortgage modification professional to complete their mortgage modification\napplication on their behalf.&nbsp; A mortgage\nmodification professional can explain the process of applying for a mortgage\nmodification, and help you determine if a mortgage modification is the best way\nto lower your mortgage payment.&nbsp; Further,\nif you choose to hire a mortgage modification professional, they can take care\nof all of the paperwork for you, and speak with your mortgage company on your\nbehalf.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Mortgage Modification Center<\/h2>\n\n\n\n<p> The Mortgage Modification Center, led by Attorney John S. Simonian, has helped numerous families stay in their homes through a mortgage modification.\u00a0 Attorney Simonian has been helping clients in both Rhode Island and Massachusetts for over 26 years.\u00a0 In addition to completing mortgage modifications for his clients, Attorney Simonian also practices bankruptcy law and other related matters.\u00a0 For more information on how Attorney Simonian can help you, call for your free initial consultation at (401) 467-7998.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With over 400 miles of coastline, Rhode Island, also known as the Ocean State, is a beautiful place to live.&nbsp; In fact, some reports even name it one of the best states to live in.&nbsp; Further, some cities and towns &hellip;<a class=\"rm\" href=\"http:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[60,3],"tags":[29,95,107,50,106,48,24],"class_list":["post-232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-modification","category-mortgage-modification","tag-attorney","tag-best-mortgage-modification-attorney","tag-help-to-lower-your-mortgage","tag-lower-mortgage-payment","tag-lower-your-mortgage","tag-mortgage-help","tag-mortgage-modification-center"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA<\/title>\n<meta name=\"description\" content=\"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA\" \/>\n<meta property=\"og:description\" content=\"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\" \/>\n<meta property=\"og:site_name\" content=\"Mortgage Modification Center RI\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RealEstateFLLaw\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/RealEstateFLLaw\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-14T10:09:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-14T17:56:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"218\" \/>\n\t<meta property=\"og:image:height\" content=\"218\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Attorney John Simonian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Attorney John Simonian\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\",\"url\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\",\"name\":\"How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA\",\"isPartOf\":{\"@id\":\"http:\/\/mortgagemodificationri.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg\",\"datePublished\":\"2018-12-14T10:09:30+00:00\",\"dateModified\":\"2019-03-14T17:56:34+00:00\",\"author\":{\"@id\":\"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/4e35b52262f9e791b16bf75e12cb5aff\"},\"description\":\"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.\",\"breadcrumb\":{\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage\",\"url\":\"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg\",\"contentUrl\":\"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg\",\"width\":218,\"height\":218,\"caption\":\"help lower your mortgage payment attorney\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/mortgagemodificationri.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to Lower Your Mortgage Payment\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/mortgagemodificationri.com\/blog\/#website\",\"url\":\"http:\/\/mortgagemodificationri.com\/blog\/\",\"name\":\"Mortgage Modification Center RI\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/mortgagemodificationri.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/4e35b52262f9e791b16bf75e12cb5aff\",\"name\":\"Attorney John Simonian\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/437696041ed7644858f744edab7889beca8bb6682c0272d6157b030e972de434?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/437696041ed7644858f744edab7889beca8bb6682c0272d6157b030e972de434?s=96&d=mm&r=g\",\"caption\":\"Attorney John Simonian\"},\"description\":\"Attorney John S. Simonian is a Rhode Island and Massachusetts lawyer who specializes in bankruptcy law and mortgage modifications. Click here to learn more about Attorney Simonian.\",\"sameAs\":[\"https:\/\/www.law-ri.com\/\",\"https:\/\/www.facebook.com\/RealEstateFLLaw\/\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA","description":"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/","og_locale":"en_US","og_type":"article","og_title":"How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA","og_description":"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.","og_url":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/","og_site_name":"Mortgage Modification Center RI","article_publisher":"https:\/\/www.facebook.com\/RealEstateFLLaw\/","article_author":"https:\/\/www.facebook.com\/RealEstateFLLaw\/","article_published_time":"2018-12-14T10:09:30+00:00","article_modified_time":"2019-03-14T17:56:34+00:00","og_image":[{"width":218,"height":218,"url":"https:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg","type":"image\/jpeg"}],"author":"Attorney John Simonian","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Attorney John Simonian","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/","url":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/","name":"How to Lower Mortgage Payment &#8226; Mortgage Modification Center &#8226; RI, MA","isPartOf":{"@id":"http:\/\/mortgagemodificationri.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage"},"image":{"@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage"},"thumbnailUrl":"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg","datePublished":"2018-12-14T10:09:30+00:00","dateModified":"2019-03-14T17:56:34+00:00","author":{"@id":"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/4e35b52262f9e791b16bf75e12cb5aff"},"description":"If you are looking to lower your mortgage payment after you purchase your home, a mortgage modification may be able to help.","breadcrumb":{"@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#primaryimage","url":"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg","contentUrl":"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg","width":218,"height":218,"caption":"help lower your mortgage payment attorney"},{"@type":"BreadcrumbList","@id":"https:\/\/mortgagemodificationri.com\/blog\/2018\/12\/14\/how-to-lower-your-mortgage-payment-ri\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/mortgagemodificationri.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How to Lower Your Mortgage Payment"}]},{"@type":"WebSite","@id":"http:\/\/mortgagemodificationri.com\/blog\/#website","url":"http:\/\/mortgagemodificationri.com\/blog\/","name":"Mortgage Modification Center RI","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/mortgagemodificationri.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/4e35b52262f9e791b16bf75e12cb5aff","name":"Attorney John Simonian","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/mortgagemodificationri.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/437696041ed7644858f744edab7889beca8bb6682c0272d6157b030e972de434?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/437696041ed7644858f744edab7889beca8bb6682c0272d6157b030e972de434?s=96&d=mm&r=g","caption":"Attorney John Simonian"},"description":"Attorney John S. Simonian is a Rhode Island and Massachusetts lawyer who specializes in bankruptcy law and mortgage modifications. Click here to learn more about Attorney Simonian.","sameAs":["https:\/\/www.law-ri.com\/","https:\/\/www.facebook.com\/RealEstateFLLaw\/"]}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"http:\/\/mortgagemodificationri.com\/blog\/wp-content\/uploads\/2018\/12\/Simonian-Logo-e1549573130573.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pahS7w-3K","_links":{"self":[{"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/posts\/232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/comments?post=232"}],"version-history":[{"count":4,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/posts\/232\/revisions"}],"predecessor-version":[{"id":529,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/posts\/232\/revisions\/529"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/media\/258"}],"wp:attachment":[{"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/media?parent=232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/categories?post=232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mortgagemodificationri.com\/blog\/wp-json\/wp\/v2\/tags?post=232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}