Want to lower your mortgage payment this fall? Here's what experts say to do.

There are multiple effective ways in which homeowners can lower their mortgage payments this fall. HAKINMHAN/Getty Images

Homeowners are still waiting for mortgage relief. Despite mounting expectations for Federal Reserve rate cuts , monthly payments remain high for millions of borrowers locked into rates near or above 7%. With household budgets already stretched thin, that hefty housing payment continues to crowd out other financial priorities.

The wait for lower rates could drag on for months, but mortgage professionals say you have options right now. Whether you're struggling to make ends meet or simply want more financial breathing room, several strategies can slice hundreds of dollars off your monthly housing bill this fall. Below, we'll break down a few expert-back recommenda