Should I refinance first and second mortgage to one loan?

We currently are contemplating either moving or refinancing our current home. Homes current value is about $215000 and amount owed on both combined loans is $188000. The refi will save us approx $300 a month and closing costs is approx $1900. Should we do this deal now even if we may sell in 6-12 months? Looks like we would recoup the closing costs fairly quickly. Suggestions?

Read more: Should I refinance first and second mortgage to one loan?