Q. My parents refinanced their home to bail me out of financial trouble. They now have a $300,000 mortgage of which I am responsible for $50,000. I currently pay $316 a month, but I would like to prepay my portion and not be in debt for the next 30 years. My parents do not have the money to prepay, so I'm wondering: Once my $50,000 is paid, is there a way to lower my parents' monthly payments? I need a way to pay my debt without putting an extra burden on them.

A. Unfortunately, there is no way to restructure a mortgage without refinancing, which costs money -- 3% or more of the amount refinanced.

The way a conventional mortgage is set up, it requires a fixed payment (principal and interest) for 30 years. If you paid your $50,000 next week, your folks would still have to make the same monthly payment, except that they would pay less interest over the life of the loan and it would be paid off earlier.

If you want to pay off your debt in a lump sum, we have an idea how you can do that without burdening your folks.

Put the $50,000 or whatever is left of your portion of the debt into an interest-bearing savings or money market account in your parents' names. We can help you find the best interest rate. Then, every month when the mortgage comes due, they can withdraw $316 from the savings account.

That way, your debt is paid, they are still getting a monthly payment from you out of the savings account and they are making money on interest payments. Of course, the interest payments will decline as the money is withdrawn, but it's still a nice thank-you to your parents for helping you out.

If your parents sell the home before the mortgage is paid off, that money would still be theirs to keep.