Thanks! More info- I have an FHA loan, my interest rate is fixed at 6.125 right now. I've only been here about a year, so refinancing will only extend my payments for a little while beyond where I already am (I don't think I'll be here 30 years, but will be here for a least 5 -20 more) and it will lower the rate to 5%. I'm also already upside down (which sucks). The new financing is special for FHA loans and doesn't require equity, appraisals, etc. I've looked into and it is a legitimate program backed by the government. My payments would lower about $150-200 each month. It doesn't seem that I would have to put in more than a couple of hundred with either place (if anything).

The bank I'm dealing with is actually Wells Fargo and they've been great so far. I'm just always afraid of getting taken advantage of or making a horrible decision. I don't have any family to help with this sort of thing and most of my friends seem about as clueless as I.