Looking for relief

Probably not.. FHA, VA, USDA and conventional all have refinance options for borrowers where an appraisal is not necessary.. but if you do not have a conforming type loan, then there isn't a lot of options.. In fact, I can only think of one.. the FHA Short Rei Program, which required your lender to participate by agreeing to reduce your principal balance at least 10%, and your Loan to Value could not exceed 97.75%, however this program ended December 31st, 2016.. Really, your only option is to wait for the value to increase to where you meet current lending guidelines maximum loan to value. The highest LTV programs are VA, which will go 100% (must be VA eligible).. or FHA, which will refinance up to 97.75%. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Possibly...1st step is to check who actually owns your loan...Fannie or Freddie. If it is then you may qualify for their refi program for situations like yours. 1) Fannie: https://www.knowyouroptions.com/loanlookup2) Freddie: https://ww3.freddiemac.com/loanlookup/If either one do...then contact your local lender to see if they offer HARP or DU Refi Plus programs....to see if you meet the rest of the guidelines.

I am thinking you may have contacted your lending requesting a renegotiation of your mortgage? If so, you may have been told you currently make too much to allow for it. Otherwise, you have to wait until you have sufficient equity to do so.You could get an 80% loan to value first mortgage loan, and a second or HELOC at 15%, thus eliminating mortgage insurance...when your home reaches value to be able to do so. I am sure you would have been aware of a VA guaranteed insured loan at 100% if a Veteran (90 days or more during time of combat, 181 days + during peacetime, 6 years or more in reserves/national guard, or a spouse in special circumstances.)

Do you still need assistance? I am able to help people in IL, KS, and MO obtain a home loan.