Refinancing mortgage help?

Hello all, I am trying to help his mother, but I’m not sure where to go and what to ask. He is 5-1 ARM mortgage and he is currently in his hand, which will expire again in December 2009 (6 months). It refied 5.25% 5 years ago (with Wells Fargo), but increased to 6.5 arm. He is currently owe 122k, with an estimated value of 215k. He has always paid their mortgage, never late and have excellent credit. But the problem is that it has recently been laid off and gets a job. I checked on the latch (affordable home refinance program) and it seems a little, it may qualify for refinancing, but potentially change? but again, I’m not sure if this will help, if he has a scar. Oh, and I checked the loan does not guarantee Freddie Mac or Fannie Mae.PS is made from a port on earth as it is another kind of advice would be very bad teretulnudT√§nuGordon

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