So I purchased my home in 2006, with an ARM(I know big mistake right) and have financial difficulties since. We've sold several of our possessions just to make ends meet, and taken a lot of money out of our 401k. We are currently 3 months delinquent on our mortgage payments.
We've been denied a loan modification and really want to keep the house. I was looking at interest rates on the top of 3 banks the other day, Wells, Chase and Bank of America and was thinking how stupid I was to buy like I did at the time. So my question is, is it possible to refinance our mortgage when behind that much on payments?