Home refinancing

I refinanced my home many years ago. In the process, I increased my mortgage enough to pay off some bills. Last year, I was looking for a way to lower my monthly bills, so I decided to refinance again at a much lower interest rate. I was told by a couple of lending institutions, that I was not eligible to refinance because once you refinance a mortgage, you cannot ever do it again. Your only option is to apply for a second mortgage. The Texas law prohibiting this had been on the books for a very long time and supposedly done to protect home owners from loosing their homes. What it is actually doing is hurting home owners. When I did the refinance, no one told me about the Texas unique law that would handicap me from future financial mortgage transactions. I was told there was no way allowed to get back to a first mortgage without paying off the complete first mortgage without taking out another loan.

Please look into revising this law so families can take advantage of the lower interest rates we currently have available.

This is an example of good intentions, causing bad results.