Nancy - first thing to do is sit down with the mortgage company and review all options right away! There are some good programs out there right now for refinancing but it just depends on your specific situation.
I have a few great mortgage contacts I use for my buyers/sellers here in Santa Fe if you would like to speak with them.
Not sure where your home is located but the market is picking up again. If you want to talk further or would like the names of my mortgage folks, I'd be happy to provide them to you. Just email me.
Prudential Santa Fe