By refinancing your loan, you can lower your monthly payments. In order to be eligible to refinance you must be current in your payments, and cannot be underwater… and you need to have excellent credit. 
Whether you go through your existing lender or elsewhere, is up to you.
There are a number of costs involved in refinancing, but long term it may well be worthwhile – especially with interest rates at the all time low they are currently at (4.25% or so right now).
Refinancing is more costly that modifying an existing loan. The costs involved in refinancing include lender fees, escrow and closing costs, survey and appraisal fees, and taxes … but those can be spread out throughout the life of the loan. The process is fairly short – 6 weeks or so to complete.
Questions? The Restivo Team will be happy to answer them, and refer you to a mortgage expert!
