Who doesn't need help with money these days? Home owners might be a bit more scared than most, especially when it comes to having to submit that monthly mortgage payment. 

According to a new report from Yahoo, it's surprising how many people don't refinance, despite low rates. Michael Mullin of First Priority Financial, Inc in California says it has a lot to do with being afraid of starting the process. He says don't be.


This is your first option to ease the pain of that monthly payment. It might be a bit complicated at first, but it's totally worth it in the end, according to Philip D. Georgiades II, chief loan steward for VA Home Loan Centers. He says that it can save homeowners up to $2,000 a year. That's a nice chunk of change!

Challenge a Bad Appraisal

Turns out if you live in an area with run down homes, or a lot of house with 'For Sale' signs the value on your house could dip. They say to make sure that your appraisal is fair, and actually based on your home value, and not what's around you.

Government Sponsored Plans

There are ways to get help from our government, should you need it. The Making Home Affordable Plan is run by the US Treasury, and can actually help you get the ball rolling as far as refinancing goes. In order to qualify for this, there are some rules. You have to be employed, and your mortgage has to date back to January 2009.

Rent Out A Space

You love that big house, but it might be a bit much to handle. You could bring in a tenant or a roommate to help you with the cost. Most loan rules don't say anything about renting out an extra room, as long as you are still living in the home.