I am making less money than when I bought my house. I want to know if there is a program out there that I can refi and get my interest rate down and payment down. I have an interest only mortgage with a 5 year arm. The 5 year arm is up next December and I want to refi. I have good credit and never been late on my mortgage payment.

The only way to really answer than question is to provide a local mortgage broker a full application. They will review all the major items: home value, income, credit, etc. to determine if there is a loan you qualify for today. It doesn't cost you anything, and the initial review can usually be done over the phone in just a few minutes.