We can’t refi the smaller one

so I’m stuck with it until it’s paid off or sold.We somehow got stuck paying PMI now, so it would just be more. We were in better financial shape 2.5 years ago when we bought it than we are now. At that time, my husband had 10 years at his job and now he’s in a different industry and less than 1 year. Our credit is not the best in the world (675, when we bought the car). And we have a car payment now too (which crazily enough, might make our credit score better!!).
I’ve started the application process with Church Hill Mortgage, even though I’m not 100% sure we would qualify for anything good!
No reason not to try to refi. I would hesitate moving the small debt onto your current home. If you run into a big financial problem, you don’t want to risk losing your home. Would selling the other home allow you to get rid of the $27K loan and some of your residential mortgage?

One thing

you have to watch though on refi-ing both because doing both at once might cause you to end up with higher rates than if you did them a few months apart. Also, make certain that your mortgage will allow you to use the house as a rental. I know we had a mortgage at one time that specifically said we had to live in the house and that we would not be allowed to rent it out. So check your wording closely.