How can I refi if I'm underwater and don't have a Fannie or Freddie loan?

There may be possibility of such a refinance if your loan is either FHA or VA also. If, however, your loan was one where you basically took out two loans at once (usually what is known as an 80/20 situation) there is nothing available to assist you in your situation, at this time -- as I have been trying to find something for a relative in that situation.The only other option would be to pay down the mortgage so that you are at 95% Loan to value or less -- and then get the refinance done.

Pay down the principal, or wait. Sorry.

If your loan is Fannie Mae, Freddie Mac, FHA, VA, or USDA... You have options. If it is not, unfortunately, there are no current options from underwater loans. www.HARP-Refinance-MN.com

See about qualifying for a HARP Loan. Unity West Lending. Newport Beach, CA (714) 881-5970

Do you have an FHA loan or VA loan? You can complete a streamline refinance if you have one of those loans with no appraisal. We are located in San Diego, feel free to give our office a call at 858-605-0952 to chat with one of our refinance experts to see what options will work for you.

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if your current loan is VA, FHA, USDA you may have refinance options without an appraisal, if not then your stuck waiting for the value to increase or you can buy down your loan.. otherwise you'll have to wait it out.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

if your current loan is VA, FHA, USDA you may have refinance options without an appraisal, if not then your stuck waiting for the value to increase or you can buy down your loan.. otherwise you'll have to wait it out.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

You can do a streamline without an appraisal if your loan is FHA, VA or USDA. If not, however, your will need to wait for the value to go back up (which they are) or pay down your principle to qualify to a refi.

if your current loan is VA, FHA, USDA you may have refinance options without an appraisal, if not then your stuck waiting for the value to increase or you can buy down your loan.. otherwise you'll have to wait it out.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I agree with the others above about FHA, VA, and USDA loans. However, it may be possible for you to refinance your underwater mortgage even if your loan wasn't purchased by Fannie or Freddie, depending up your home's loan-to-value ratio. Do you know if either purchased it? Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Yes you can call your current servicer and they can submit a request for modification directly to the investor on your loan, if they're not the investor themselves.Good luck.