Since your mortgage balance is more than the value of your home, you may have trouble obtaining a conventional refinance loan, as most lenders are not willing to extend loans that exceed 100% of the value of the property.
However, if you are facing a significant increase in your interest rates, you should certainly contact lenders to find out what HARP refinance options are available to you based on your current financial situation.
The only way to determine whether or not you will qualify for a refinance loan is to apply for a loan with several different lenders and/or brokers.
Bills.com makes it easy to compare mortgage offers and different loan types. Please visit the Mortgage Refinance Quote page and find a loan that meets your needs.
Not only will these mortgage professionals be able to tell you whether or not your currently qualify, but if you do not qualify, they can tell you what aspects of your financial situation are causing you problems, and make suggestions about how to improve your chances to qualify for a loan.
If you would like to read more about mortgage refinance loans, I encourage you to visit the Bills.com Home Refinance Resources page.
If you enter your contact information in the Bills.com Savings Center at the top of the page, we can have several pre-screened mortgage brokers contact you to discuss the loan options available to you. You should also visit the Bills.com Credit Solutions page to learn more about credit, credit reporting, and ways to improve your credit score which should help you qualify for better loan terms.
I wish you the best of luck in finding a lender willing to work with you. I hope that the information I have provided helps you Find. Learn. Save.