Do I have any options? (refinance dilemma)
The option you do have is to refinance your first and subordinate your 2nd mortgage. This is trully your only option. Use the money you save on your payment to pay off your 2nd mortgage.

REFI. ADVICE
Hello Hollis, As a lender I would need to know if you are in a conventional loan or FHA or VA. There are several options depending on your loan type. VA and FHA have a streamline process that many times does not require an appraisal and if we need to have one done I have lenders that will allow a loan to value as...

How can I find out when my mortgage was sold to Fannie Mae ?
Call your lender and they should be able to tell you.

5% down mortgage programs
You can qualify for a conventional mortgage with 5% down. However you will have monthly mortgage insurnace until the loan is paid down to 80% of the appraised value at the time of the purchase. There are options to have lender paid MI to reduce the monthly payment. You will need to have 6 months PITI...