Is there any mortgage help for loans not backed by freddie or fannie?

With a new director of FHFA... The light is now on at the end of this tunnel we have been referring to as HARP 3.0.

Depending on when your current loan was originated and what type of loan you have, you may have the ability to refinance now. FHA offers a "streamline" refinance process and many conventional loans originated prior to June '09 are eligible for HARP 2.0

If you have an FHA loan or a VA loan you could complete a streamline refinance. What loan program do you currently have?

Yes there maybe options available to you even though you are upside down. If you contact me, I can put you in contact with some very experienced mortgage loan orginators in CO.

FHA, VA and USDA all have streamline refinance options where an appraisal would not be necessary.. if your current loan does not fall into one of those categories, and is not HARP eligible, then the only thing you can do is pay down your mortgage or wait till the value increases. There is a proposal called HARP 3.0 but all the indications show it probably wont get passed.. if it does, then it might offer you a way to refinance, but right now these are your only options.. 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

There is a proposal coming that should allow for non-Fannie/Freddie loans to be able to refinance, even if you are under water!