A Huge Problem

 - for homeowners  has been that if they owe more on their home then it is worth (underwater)  they have not been able to refinance and  lower their interest rate with the new low rates since the home will not appraise for the amount owed on it.  However, if you are current on your payments and if  your loan was backed by FNMA  (fannie mae) or FMAC freddie mac) on or before 5/31/2009, you may be luck.    You can now refinance your home no matter what the balance may be to the new current rates and lower your payments if you meet customary underwriting guidelines.   To learn more, go to http://www.mainstreet.com/article/real-estate/more-help-homeowners-harp-20