help is there anybody that could help us refinance our ist and 2nd mortgage combine even the value is lower?

credit score is excellent but the house was appraised lower than the total loan combined for refinance. we just want to lower our monthly payment due to pay cuts. current interest on first is 6.75 and the second is 7.5% we would love to find a 5% that would surely cut our monthly payment.

My husband was laid off from his job two days ago. Prior to this, we were considering refinancing (our current mortgage is at 6.625%). I am wondering if this layoff instantly qualifies us for some type of special rate/terms in a refinance or loan modification or if we should just continue with a conventional refinance? We don’t want to miss out on anything that would help us out financially, but we also don’t want to wait on something conventional only for rates to shoot up again.

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