Does a VA home loan program help service members who are trying to re-fi to get out from under a adjustable rate mortgage. I am really being hit hard by the high increase in my adjustable rate, for instance my mortgage just went up $350.00 a month and I CANNOT pay it..

Yes. VA will refinance an existing mortgage to a VA loan.

Paul
See my profile for contact information

One work of warning - a fixed rate re-fi will not take it down to the old monthly. IT will probably be less that the variable rate, but not what it was with the teaser rate.

I am aware that it will not be down to the old monthly, but something has to be better then that bank jumping my interst to 10.7% and telling me that it might even be higher after Jan..

I agree 6.5% is much better. Not sure what home loan rates are right now.