[ANYONE WITH SOUND-CARD CAN HELP] Reduce Microphone lag

(full story, TL:DR at bottom)

I'm really getting quite stressed over this :(

Basically I bought an expensive pair of headphones and a ModMic, cool right? No, using the mic is a nightmare and here is why(something veryyyyyy overlooked), you can't hear yourself speak, imagine being deaf and trying to speak at a respectable volume and tone, that's what it's like using closed headphones and an external mic, I've tried several software routes around this, such as clownfish and selecting "listen to device" in the microphone option within windows and there is sooo much delay you interupt yourself half way into a sentence and you cannot speak, I challenge anyone to do this.

 

TL:DR

My question, fellow master race, is: Does/will a sound-card remove or drastically improve the lag when you select to "listen to device"(as shown below) so that I may hear my volume and tone of my voice so that I can communicate correctly with my friends. I think anyone with ANY sound-card should be able to help me answer this question, any input is hugely appreciated.

Bump? please D:

Bump up? D: I'm on the verge of selling my headphones and modmic if I can't solve this issue.

Bump up? D: I'm on the verge of selling my headphones and modmic if I can't solve this issue.

As far as I know, the only way you are going to get something that plays the mic back to you at a speed that doesn't throw off your own speech is with an audio interface.  Now I don't mean sound card, but through my experience the only thing I have seen do that is a usb recording interface or something similar.  Sometimes referred to as an ASIO.

There is probably a way to do it with a traditional sound card but I personally don't know of it.