is there help for underwater borrowers not eligible for HARP

Not yet, there is talk for a Harp 3 program that might include Non Fannie and Freddie loans, but nothing definitive yet.

Sorry, you will just need to wait.

If you have an FHA or VA loan, you could potentially complete a streamline refinance, however other that there are not many options. You may also want to discuss a loan modification with your current lender to see if they would be willing to adjust the terms to help you to continue to make your payments.

Write your Senator and Representatives. The bill has been stalled in Congress for over a year. Call me or email me and I will send you a letter I have done for my clients. I know it's not much - but they need to hear from you. Linda Miller linda@lindamillergroup.com - 801.550.1222.

YES.. FHA, VA, USDA all have programs for underwater borrowers where you can refinance without an appraisal.. but to qualify for these programs, your loan has to be FHA, VA or USDA currently.. otherwise, your only option is to wait till the value increases or your payoff gets lower to where you fall within an acceptable loan to value ratio for the lending program your attempting to use for refinancing.. 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