GNMA mortgage underwater can I refi

I'm a real estate broker in Orem and our office use to be in Provo. I have a great senior loan officer who can help. His name is Paul Newell and he's with Security Home Mortgage in Orem. I would give him a call. His number is (801) 362-2010. All the best.

really depends on what type of loan it is. Both FHA and VA offer "streamline refinance" options where the appraisal is not considered. Those types of loans are done all the time without a mortgage as long as you have been current on the mortgage.

Depends on when you took out the original loan. A streamlined refinance without an appraisal is an option but there are differing rules depending on FHA or VA. Best to contact one of the lenders on this page in your area and see if they can assist you. You may also want to talk to your current loan servicer. A lot of homes that were under water are no longer. Have you checked the value of your home recently and compared to your actual mortgage balance? -DB

If the loan is GNMA, it is either an FHA loan or a VA loan. Both of those programs offer a streamline refinance option where an appraisal may not be needed. Therefore being underwater is not a problem. The HARP refinance program is only available to someone with a Fannie Mae or Freddie Mac loan, and the loan must have been take out prior to June 2009. For a HARP refinance in MN, visit www.HARP-Refinance-MN.com