I am wondering if SOMEONE on the forum can help me out.

I currently own a few photo programs. Photoshop 7.0, photoshop elements 7.0 and photo imact pro 13

I have a jpeg photo card that I had made awhile back for my daughters birthday, but saved it in a jpeg file format. I wanted to EDIT this for my other daughters upcoming birthday but I can't figure out how. She loves the invitation so much and REALLY I cant redesign it from scratch EVEN if I tried.  It is driving me insane!
I just want to change the text and add a new photograph. When trying to do so it is removing the whole image.
I contacted one of these freelance people who design invitations and was told they can copy and remake the same exact design for me.. Well if they can do it why can't I.. and save myself the money 
Any Advice, help would be SO GREATLY Appreciated!

When you saved it as JPEG, you combined all the layers (graphics, EFFECTS, text) into one. Any graphics that were once behind the text are gone for good. What a freelancer will do is basically redraw what was behind the text, or just try to recreate the template from scratch. Can take a bit of work.

Post what you got. A good geek is always willing to help for free 
Yeah, the layers of the graphic image are combined. Check if it is saved in the PSD format. You can edit it if its available. not after saving it as a /jpeg i'm afraid...