How to refinance if under water?I'm about $25K under water with my condo that I've owned for 4+ years. I've never been late on a mortgage payment, but I'm stuck in a 6.725% interest rate for 30-yrs. I would love to be able to take advantage of the extremely low interest rates so that I can lower my monthly payment and use that money to pay my student loans down faster. However I'm not in a fanny/freddy backed loan. I used a first time buyer program through the State of NH. They say they don't do refinances and I don't qualify for modification. They say I can only short sale, but I don't want to sell my place. Is there ANY way I can get refinanced while the rates are low? Please help if you can. Any info would be cherished.Thanks,MeganAugust 07 2010 - Rochester00YesReport 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.