Tucson Home Loans Home Loan In Arizona? Non Recourse Or Refi?

Home Loan in Arizona? Non Recourse or Refi? - tucson home loans

I already have a home loan to GMAC Tucson. The current AMT is owed fixed about $ 196,400 30-year-old at 6.5%.
My husband I want real estate refi streamline FHA loan with 5.5% wage increase for what is essentially a no-cost refinancing cash. I think the house is actually worth now about $ 183.000. I have 28 years of the loan orig left.
1) If I lost my job, not a loan application at home, so he would not sell for the value, what is still responsible?
2) If more refined, the further streamlining of the FHA would not like or could be paid on that (because of loss of employment) for the loan value of short compared to the sale?
What I see is the monthly pymt it would be less attractive, but if I did not move to a reliance on a loan, which would put the deficit.
Any help would be very helpful - Thank you