Help for Underwater Homeowners That Would Like to Refinance

 -   There are a lot of people out there that owe more then their homes are worth but are making their payments fine and want to keep their homes.  However, they would like to take advantage of today's lower interest rates but have not been able to because their homes will not appraise for the value needed to do a new loan.   If your loan is owned be either Fannie Mae or Freddie Mac and was originated prior to 5/31/09,  there is a new program that may allow you to refi and take advantage of the new rates.  Be aware that even though you may be making your payment to a bank like Wells Fargo,  Fannie or Freddie may own the loan and you could be eligible.   You can find out on their individual websites.   For more info on this, go to this