Q: I bought a home a little more than 6 months ago. This week, I lost my job. I’m wondering if I can refinance the mortgage now and lower our payments.

A: Without a regular source of income, like a full-time job, you will have a difficult time refinancing your existing loan or even getting a home equity loan or line of credit.

Hopefully, you will be able to find full-time work soon, before your jobless benefits run out, so that you can continue to make your mortgage payments on time. You need to keep paying all of your bills on time so that you maintain an excellent credit history and high credit score.

Having good credit means that the moment you do have a full-time job, you can take advantage of the current low interest rates and refinance or take out a home equity loan or line of credit.

Good luck with your job search.