We are not harp eligibleunderwater at least 10,000. Paying 4.92% intrestest only. Need fixed rate and lower payment is there help?

4.92% is a historically great rate and today it is only a bit higher than the going rate. I am a full time professional mortgage banker in the same boat as you and I have 5.625%.The answer is no, there is nothing out there for you right now. Not to be a downer but to be realistic, they said they were working on this but if they do it, the rates may not be much better than you have now.

Answer #2: There is some help for you if you find your financial situation has changed and you can't afford the payments. Instead of looking to HARP to refinance, you can look to HAMP to modify the loan. The best approach is to work directly with the servicer who is servicing your loan currently.