Any refinance option on underwater Wells Fargo 5/1 ARM?Purchased home Dec 07, 5/1 ARM interest-only option as we were in process of selling another home and would refi into a fixed with proceeds. Unfortunately, sold the other home at loss so we're "stuck" with the ARM. The home has depreciated every month since we bought it, and is now 90k underwater. Loan set to adjust Feb 2013. Not a Freddy/Fannie or FHA, VA loan. According to Wells, we don't qualify for the Attorney General's settlement either (apparently, a subsidiary of Wells owns the loan, so it's technically not eligible). We don't qualify for the Keep Your Home CA refi either (don't meet income req). Even though I was laid off for a while, we always stayed current, never missed a payment. We want to stay long term to raise our 1 year old. We're thinking about applying for a loan mod. Any advice or other options? Please only respond if you have helpful advice, I don't need to hear "you're screwed" one more time... Thanks in advance.May 21 2012 - Sacramento00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.