What government programs are available to refinance if your loan is NOT owned by freddie mac or fannie mae?

Question by jlynn: What government programs are available to refinance if your loan is NOT owned by freddie mac or fannie mae?
We are upside down in our mortgage by about 25,000.We have an adjustable rate which is locked for one more year.We would like to refinance into a fixed rate but cant because of the equity. Are there any govt programs that can help if you dont have fannie mae or freddie mac.All payment are current and i dont want to not pay in order to refinance.

Best answer:

Answer by Doctor Deth
I don’t think there is anything available with that much negative equity – you’ll have a hard enough time finding an affordable fixed rate next yr with the neg equity

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