Households can consider refinancing their mortgage to extend their amortization, make extra payments to reduce the principal faster and shop for the best mortgage rates and terms to manage mortgage costs. It is advisable to consult with a mortgage expert to determine the best course of action based on individual circumstances.
Note: subprime and private mortgages offer longer amortizations, but they are typically suitable for borrowers looking for short-term solutions with an exit strategy.  It’s important to be wary of mortgage brokers who jump to these solutions before explaining why you can’t qualify on the prime lending side.