Right now in America the economy is going through some rough times and remains unstable. However, there are things you can do to improve your personal financial situation such as refinancing your home mortgage.There are a lot of reasons people choose to refinance their home. The top 2 reasons though are usually to get out of an ARM (Adjustable rate mortgage) and into a fixed rate mortgage, or to get better interest rates or terms than your current loan has. Both instances will almost overnight, stabilize your financial future into manageable terms and conditions with payments you can afford and predict. Obtaining a lower interest rate will make your monthly mortgage payments lower. This will free up extra money for you every single month to do with as you wish. Refinancing in order to get out of an ARM loan and into a stable fixed rate loan can be a big relief of the unknown. You will know your exact payment every month instead of letting the market and your lender determine your monthly mortgage. This gives you financial stability and will help you plan your life’s expenses easier.Check first with your current lender for their offers to help you refinance. A lot of banks and lenders are struggling right now, just as much, or more, than even some individuals. Refinancing typically means that will be one less foreclosure to have to pay for or face in the future. If however your current lender is unwilling or unable to help you, know that you have a choice to choose any lender you wish. Start by checking local banks and mortgage lenders close to you. Often, a local company will give extra care and attention to you and your specific needs and improve your financial situation. Other options include large banks or mortgage lenders. They are easily researched and found using the internet, magazines, or newspapers. They have the means and connections to improve, to at least some degree, almost anyones financial woes, regardless of personal finances.One of the greatest ways to improve the chances of getting a home mortgaged refinanced is to make sure that your personal finances are in the best order they can be. This is basic stuff here. Make sure bills are paid in time and in full. Try to pay off any lingering debts you have and do not extend, or open new lines of credit prior to applying for refinancing.The best thing you can do is practice patience and perform basic research before refinancing a loan. If it is done the right way you will save a lot of money every month on your payments. However, if it is done wrong, it will cost you a lot and set your financial goals back. Good luck and be careful.