I am desperate to get a better rate for my home mortgage. I have a bad credit due to my financial hardships lately. I never had mortgage payment problems fpr 11 years but these last months have been pretty bad which has put me in a situation that I can afford my mortage mainly because my rate is 9.7% and the bank does not want to modify my loan.

What state are you in?

Unfortunately, standard refinances will look primarily at your recent credit/payment history. If your mortgage company doesn't want to modify your loan, perhaps they will entertain a forbearance plan; this is only temporary relief, though. You might consider looking for a reputable loan modification company in your area to assist you, also; if they're reputable, they will probably give you some kind of complimentary consultation and know how to do with your lender, or will at least offer some sort of guarantee.

I would reach out to the Hope for Homeowners program, you can reach them at the following link for NJ residents: http://portal.hud.gov/portal/page/portal/HUD/states/new_jerseyBest,Matt Davis