One of the things you may consider during this housing and market crunch is to refinance your home.  The Federal Reserve has just dropped the federal funds lending rate to 1.5%, and it's emergency lending rate to banks by 0.5%, to 1.75%.  With these current cuts, you may be able to refinance your home, as banks are now in a position to give you a better deal.

The problem that homeowners currently face with refinancing is that they will have to already have equity in their home at current prices.  This is going to be tricky, as home prices nationwide have fallen significantly in the past several months.  A lot of banks are getting leery about making loans on assets that are falling so drastically in value.  In fact, many of them are now requiring you to have at least 20% in equity to have a traditional mortgage placed on a house.  Your other choice would be to get a FHA loan.  The problem with FHA loans are that they tend to have slightly higher interest rates.  FHA loans also have the extra negative point that you can never cancel your mortgage insurance for the lifetime of that loan.  The only way you can cancel your mortgage insurance is to either pay off your loan in full, or refinance your mortgage at a later date. 

Your best chance to  approach your current mortgage holder as well as several other banks for rate comparisons.  Since your current mortgage holder already has an interest in your loan, you do have a bargaining chip to continue doing business with you.