We have a HELOC. The bank turned us down for refinance due to the appraisal being less than what we owe on the home. Now we are upside down. We aren't behind on the payments yet, but work has cut to 32 hours a week, which makes it hard to meet those payments each month. Is their any help available for our situation?

Do you only have the HELOC?

Please email or fax me a recent copy of your mortgage statement including the HELOC and the last 4 digits of their SS #.I'll see if I can help. Thanks.Jose Moralesinfo@floridamortgagecoach.comPh: 561-432-9237Fax: 866-284-2897

If this is a second mortgage, you may have to wait for house values to go up. Worst case, if you can not pay the mortgage, you may have to consider a short sale. Sorry.

Have to agree with others, if you can't make the payment on the HELOC your only option is to either try to negotiate a lower payment with them, short sale or foreclosure. If you have an other mortgage too, it it eligible for a HARP refinace that may be possible but you'll likely need to qualify for the new mortgage plus all your other debt including the HELOC. Good luck.

Unfortunately you don't have many options other than to work with the bank holding the HELOC or other ideas presented prevoiusly. Hopefully things will improve soon, good luck!

If you give me a call - I can go over some potential options for you. we can be found at www.7thlvl.com Thank you

Being may or may not be a deal killer. Being underwater restricts your options, but I suggest you speak with a local mortgage broker for more potential options. Bank loan officers are not required to have a license and are really more of just application takers versus mortgage professionals, plus brokers have dramatically more options than the options of just one bank.

You can try to negotiate with them for a settlement but more than likely, they won't accept something that will suit you since you're currently on time. You can try to do a HARP loan which will allow for up to 125% loan to value ratio or try a government loan modification - HAMP. Call or email if any questions at centralflmtg@att.net

HARP loans are only good for Fannie/Freddie loans, and HELOC's will not qualify.. FHA will allow for 97.75% loan to value, and If you have VA benefits, you can finance 100% of your homes value.. if you owe more than the home is worth on a HELOC, then you have very limited options.. You can ask for the lender to discount the payoff where they would take less than what's owed.. FHA has a loan product that allows you to refinance a short payoff loan providing the lender takes 10% or more off the principal balance.. keep in mind that most HELOC's have adjustable rates, and these rates are extremely low right now.. going to an FHA loan with mortgage insurance could net you a higher payment ... If you cannot afford your HELOC's loan now, then you probably wont benefit from refinancing, even if you could.. 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. 480-287-5714 WilliamAcres.com