A money-saving New Year's resolution: Reduce your mortgage payment.

January is such a good time to take a good hard look at your financial life, and if you're hoping to reduce your mortgage expenses without refinancing, Lynnley Browning of the New York Times offers a smart look at how to do it. She says that you can lower your monthly mortgage payment and save interest may without overwhelming fees that come with refinancing "recasting," or "re-amortizating" your mortgage. Not all lenders and servicers, will do it, but it pays to check out the possibility.