4 Ways to Reduce Your Monthly Housing Costs Right Now

1) Save BIG by refinancing your mortgage (even with high-interest rates):

• Drop your house payment by increasing the length of your loan
• Decrease the length of your loan to pay off your mortgage faster
• Skip up to two house payments
• Use proceeds to consolidate and pay off credit card debt, student loan debt, and other loans
• Use proceeds to install energy-efficient features
• Believe it or not, some people can still reduce their interest rate
• Apply on this link. 

2) Reduce Your House Payment by Easily Restructuring Your Escrow Shortage:

• The most common reason for an increased house payment is caused by an escrow shortage
• Escrow shortages are caused by rising property taxes and insurance rates
• By default, lenders automatically assign escrow shortages a 12-month payment plan which causes your house payment to skyrocket
• To reduce your payment, simply call your mortgage company and ask them to extend the escrow shortage payment plan for over 24 months. Most mortgage companies will grant this extension without the borrower having to fill out an application or prove a hardship — simply by request

3) Remove Costly PMI You Might Not Even Realize You Are Paying:

• If you purchased your house in the last 5 years with less than 20% down payment, there's a good chance your mortgage company still bundles private mortgage insurance (PMI) into your house payment
• As home prices increase, you gain equity, which means you might be entitled to cancel your PMI
• Depending on your situation, removing PMI may be as simple as submitting a request
• Reach out to your lender and ask what documentation they require to request the removal of PMI, potentially saving you a significant amount each month. It might be as simple as filling out a form.

4) Slash Your Electricity Costs:

• Cut your utility bill. This company helped Chandler save over $1,000, and it costs less than $20 a month. It almost feels like magic. We liked it so much that we partnered with them so you can use it too.
• If you sign up using our link, you’ll pay the same price you would by going straight to them, but they’ll donate $2 to support our free property tax protest service for every person who signs up.
• Click here to see how much you can save.

Written by Chandler Crouch 
Broker/Owner at Chandler Crouch Realtors
See more media features on our News page