why is there no program for homeowners upside down on a conventional loan?! we do not qualify for HARP

Conventional simply means "not a government" loan, like FHA or VA. Conforming conventional means it is a Fannie Mae or Freddie Mac back loan. HARP, while still available today, never was able to help everyone. The government only oversees Fannie Mae and Freddie Mac, so they could only tell those entities to offer the HARP loans. We rarely ever do HARP loans anymore, because the vast majority of homes have recovered the lost value enough that refinancing with a traditional loan is a viable option. Are you sure you are still underwater today? I'd suggest contacting a local mortgage broker in your area to discuss your options.

There are programs for just about every loan type.. Conventional has HARP.. FHA has the streamline, VA has the IRRRL, and USDA has a streamline feature as well.. All these programs have a way to refinance if you are underwater.. however, there were some very odd situations on conventional loans where HARP did not apply.. you are probably in that category.. Unfortunately, unless you have sufficient equity, you will need to wait to refinance. I'm a preferred Lender with California and Arizona 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