Refinancing options after Chapter 7 discharge

[Backlyn]

My husband and I had our Chapter 7 discharged on 10-8-10. The trustee still has not closed our case as of yet. According to Pacer he is waiting to be paid for his services. All other issues seem to be done. We retained our home and continue to pay two mortgages that are killing us every month. We only owe $58K on our home and it is valued at probably $125K. Current interest rates are 6.25% on primary and 7.75% on the second. I would love to refinance and get our monthly payment down and consolidated to one mortgage. We have lived in the home 20 years. My current credit score is 606. Any advice???

Thank you

[HHM]

No harm in trying, I would suggest using a mortgage broker as they can shop the loan around.

However, you score is pretty low. That doesn't mean you won't qualify, but you probably won't see a market rate interest rate.