(updated Jan. 2017)
A lot of homeowners with underwater mortgages would like to refinance, but they don't qualify for HARP (the federal Home Affordable Refinance Program). And HARP will be expiring soon anyway. Do they have other options?
Surprisingly, yes. There are other ways you can refinance a negative-equity mortgage if you don't qualify for HARP. Unfortunately, they're limited to borrowers who are in specific situations. However, more options may be on the way.
Easy refinance for FHA, VA loans