If you have Equity it may be possible to refinance even though you have been late on your mortgage. I have an in-house broker who deals with these type of situations. Please give me a call or email me so I can try to assist you.
Rule number one: Don't let anyone pressure you to do anything
Rule number two: if you do not understand, don't sign.
Rule number three: If you do not know what you are doing hire someone who does.
I think at this point you are definitely on number three but it may be too late. Hard to give you any real good advice without a lot more facts and details.
Oh, by the way, rule number four: Be careful with free advice, it is worth what you paid for it!
It's possible. Most lenders are competitive; they carry same loan programs.
Have you thought about selling this property? Right now, it's a great time to sell. Koreatown is one of my neighborhoods. Feel free to contact me without any obligation.