If you currently do not qualify to refinance because you bought at the height of the market and do not have the cash to bring down your mortgage amount for you to qualify? There is a Home Assistance Refinancing Program (HARP) that may be able to help.
It requires you to qualify with a lender but here are a few quick musts before you contact a lender;
– Are you current and have been diligently paying your mortgage payments?
– Do you have job stability to qualify?
– Have you refinanced since June, 2009?
– Is your loan backed by Freddie or Fannie?
You need to be current and paying diligently with job stability as you would in any other refinance. You cannot have refinanced since June 2009 and your loan must be backed by Freddie or Fannie.