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In the past the gov't has come up with programs to help struggling home owners.  All of them have had glitches so that only about 2% end up getting the help.  HARP 2 will hopefully change that record.  HARP 2 guidelines call for unlimited "Loan to Value", so no equity is required. If you have a 2nd loan, you can't combine it in the refinance, but if the 2nd lender is willing to subordinate, you may still be eligible.  The program is set up for loans owned by Fannie Mae or Freddie Mac (they may not be your loan servicer) and the original loan closed before June 2009.

If you know anyone who has wanted to take advantage of the today's low rates. but hasn't been able to because they don't have equity, let them know that HARP 2 is out & will be generally available by the middle of March. No equity required. Contact me to check eligibility and get started. Get going soon, so you don't miss out.

Randy