Refinancing home loan?

A friend and I have purchased a house about a year ago. We went in 50/50. We were informed that our interest rate has lowered and we are eligible to refinance the loan. My question is, I would like to move back home and allow my friends girlfriend to take my place on the mortgage so I can be free of the financial burden of the house and move, first, is this an actual option for me, and secondly, is there a buyout payment that I should be asking for? Thanks, hope I made sense.

The clean way to do this is to sell the house to your roommate and his GF so THEY can take advantage of these lower interest rates. This transaction will both take your name off the property AND relieve you of financial obligations regarding the loan. A good loan officer will be able to help you. Good Luck!

I think first of all you have to contact your mortgage lender and get advice to them what he say ? or you can found many online resources where you can modify your loan because loan modification is the best option for you

you can try this source : http://www.refinancing101.net/loan-modification.html

Yes Ask the GF to buy you out. Has the value of the house increased, or is there equity. Good starting point is the amount you personally put in for the down payment. Work the number, discuss and negotiate.