Yeah, unless Freddie or Fannie own your mortgage, you're pretty much SOL. the banks did have a settlement with the govt that required them to modify loans for those who are under water but current. You can ask them about the national mortgage settlement http://homeloanhelp.bankofamerica.com/en/principal-reduction-announcement.html

They should be able to see if your eligible. My inlaws weren't and I forget why but its worth asking. Also go into your local office and see what they can do for you.

Have you tried calling your Congressperson? Call their local office and ask to speak to the caseworker who does housing. Telling them you are looking for resources and see what they have to offer. At the very least, they can call the legislative affairs office at the B of A and ask them to have someone at the bank take a second look at your situation.

You are really at bank of America's mercy if they own your mtg. Sorry. B of A really is the worst bank in America. Hate them

Unfortunately, Bank of America actually owns out mortgage. Again, they have been TERRIBLE to work with!

Anonymous wrote:We have called numerous places to try and refinance with the "help" that is supposed to be out there. Unfortunately, we've had no luck. Anyone else had luck refinancing with a mortgage that is under water. Our mortgage is with Bank of America (which could not POSSIBLY be less helpful!). We have never been late and both have good credit. We just bought at a lousy time.

Thanks in advance!

Does Fannie Mae own your mortgage? Does Freddie Mac? If Freddie Mac does, they have a limited list of lenders that they work with--search their website for this.

We have called numerous places to try and refinance with the "help" that is supposed to be out there. Unfortunately, we've had no luck. Anyone else had luck refinancing with a mortgage that is under water. Our mortgage is with Bank of America (which could not POSSIBLY be less helpful!). We have never been late and both have good credit. We just bought at a lousy time.

Thanks in advance!