I was wondering if this was an option for us. We bought our home just in Sept 2010 (8months old) with a Home Trust mortgage. We are looking into paying down around $45k-$50k in debt. Our purchase price was $310k, property re-assessed at $346k. Our mortgage amount is around $285k. Interest rate 3.87% fixed 5 yr. My husband's income has not changed but his credit score has gone down (we know this because we've missed some payments since Jan this year.)

Is refinancing an option for us? If there are brokers out there you know that can deal with something like this it would be great to know them. We don't mind the increase in monthly payments as long as its not ridiculous.