how can I refinance an underwater mortgage without harp

VA, FHA, USDA and Conventional all have programs where you can refinance without the need for an appraisal.. but you can only go like to like programs.. To advise you properly, we would need to know which type of loan you have now.. If it turns out that your loan is a portfolio loan and does not qualify for any of the other types of refinance options, then you would be stuck... There is a very faint possibility that HARP 3.0 would get passed.. this was supposed to fill the gap for all those loans that didn't qualify for any of the other refinance options, but as I said, it doesn't look to have a lot of support with our legislature... Stay tuned... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Another possibility is to do a "cash in" refinance- this is basically you bring money to closing in the amount of the loan to value you would like to refinance at.for more information you can contact me at pete.bass@everbank.com

More than likely you will have to bring cash to the closing table to bring the LTV of your loan to appraised value in line with guidelines.

Other than the options listed already, there are not any options to refinance without bringing cash to the closing or possible borrowing against another property (or a 401k for example). Good luck!