How can we lower our mortgage rate?

Hi,
I’m wondering what are the options to lowering our mortgage rate. We currently have about a 300,000 dollar loan for our house. However, we have them on two different loans; they’re at 10% and 7% interest. I was wondering what steps we can take to lower these rates. With the economy recessing, it’s becoming harder and harder to pay these bills. I have heard in the news that we can have our mortgage rates lowered up to 5%? Please, if there’s anything we can do, please inform us. Thanks for your help.

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