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 in response to duvexy...   Thank you for the advice! The reason I would like to refinance is to lower our interest rates, right now the rates are 4 or 5% we got ours at 7 and 8%. We won't have our house paid off in our life time as it is, So I was hoping to refinance at a lower % rate to just live a little more comfortable for the rest of our lives. My Son wants to buy our home when we are gone and he right now has a family and house pmt where he can't afford both. This home we have lived in over 33 yrs so all our kids lived here thier entire lives. We made a huge mistake raising 4 kids all in sports and using cc cards for thier needs and alot of ours. We got into the credit card crunch so every few yrs we would 2nd Mortgage..take the equity and pay off CC cards. when the CC card companies raised the interest rates and housing market dropped it killed us, no equity and cc card interests up to 38% we couldn't 2nd because of no equity couldn't pay CC and medical bills and were forced to file banruptcy,, We were doing ok and then got in terrible financial trouble. Now since my husband can't work and on ss I stay home to help him out. refinacing would cut our pmt in half almost and there is alot a person can do with the extra money. I know there are people way worse off but my husband worked since he was 16 yrs old paid taxes and I think he deserves a little extra money so we can do something besides sit at home and watch TV....I don't expect you to feel sorry for us was just hoping to find some way to refinance both loans.
If we would have done things right like you posted our house would have been paid off by now. or earlier. We were young and dumb. You know I wished I knew then what I know now. Too late now. again Thank you for your advice just not realistic for us. I don't think we get anything back for taxes we always owe. or so we did when we were working.

My husband recently became disabled from a fall. he had a brain anyerism and a stroke. We recieve ss disability and a small pension. My problem is about 3 yrs ago we filed bankruptcy. we have a first and second mortgage. I have been trying to find someone to refinance both mortgages so we only have 1 pmt at a lower cost. our home has lost value due to the poor economy. and is only valued at about 15,000 over what we need to refinance. During the bankrupcy the 2nd refused to reafirm our loan. but we are still making the payments. Is there anything we can do as to most our money goes on the mortgage payments. I have been told I can refinance on the first but can't combine the 2nd. Any help would be greatly appreciated!