can I refimy mort & save my home?

Welcome mercedes!

Sounds like a tough situation. If your wife isnt working, a re-fi is probably not a good option....lenders are tightening their standards.

My recommendation would be to contact your mortgage company ASAP and explain the situation! Most mortgage companies are offering loan modifications and special loss avoidance programs right now.

Volleyball mom is right. As Donald Trump put it to a question on TV the other night. No bank or mortgage company wants to hold thousands of devalued properties right now. Contact your mortage company and explain you situation and see if they won't do a loan mod for you. Sometimes they will put the past due on the back end and lower your rate at the same time. Go to them and see! I would be very surprised if they won't make a deal. Make sure you are talking to the right person. Not someone in the collection end.

Just a note to add to this from someone who has been in this situation already...

keep in mind if your mortgage is like many these days and has been sold many times over from one company to another, you might find that the company handling your mortgage is only a "servicer" and not an actual mortgage company. The servicing company may state up front that they are more than willing to do a forebearance program for you, but the truth of the matter is that many servicing companies are unwilling to work with the customer at all.

I do wish you luck - please come back and let us know the outcome of your situation. As stated above, your best move at this point is to contact the company and see what their stance is on this.