How to Offset / Lower your Mortgage Payment

With the economy shaking at the knees, we are all looking for ways to reduce or offset our cost of living. The best way to increase your income is to reduce (Offset your) expenses.

Difficulty: Moderately Challenging

Instructions

Things You'll Need:

• Creative Mind
• Good Attitude
• Willing Family Members
• Desire to Reduce your Debt
• Desire to Increase Your savings

1. The first thing to do is rent out a spare room. This should get you $400 - $500 per month

2. Park your Cars outside and Rent out your Garage (If you have it somewhat empty) You can get $50 to $100 per month.

3. If you live in the country or have some land you can. Lease the land for cattle or horses, have people bush hog it for Hay, or sell the trees on the land to a lumber company. This could bring you from a couple of hundred $'s per month to up to $10,000 if you are selling timber.

4. If your credit is in good shape and your home is more has more than %20 equity in it you may possibly be able to refinance your home and then take the extra money and pay down any credit cards. I suggest start with the lowest $ amount and pay it off then add that amount to paying off the next. And so on.

5. As a note to Step 2... Have a garage sell and get rid of all that junk in the garage and turn that space into an income producer. Also the money you make from the garage sell apply that money to reducing your credit card debt and the interest your paying.

6. Buy and sell for profit ( http://www.ehow.com/how_2161008_buy-acquire-sell-profit.html )
   
   Be creative and you will think of a thousand ways to offset your mortgage.
   
   Write more articles on eHow.com

Resources

• Buy and Sell for a Profit

[AdirondackTrina]

on 2/25/2009 Great ideas for offsetting my mortgage. I especially like the "get rid of your junk" one! Ü