Is there ANY way I can refinance a non-FHA loan, that is underwater?!?I bought my house in 05 with apr of 6.5%. I am currently underwater a little bit on what I owe and what its worth. House prices are rising in the area a little. It is a non-FHA loan from a credit union in Mass. I live in RI. I would really like to take advantage of the rates. Also, I am considering dropping the rate to get someone to rent the house, to build my own. My wife is not on the note and want to use her to get something with more land. Are there ANY options out there? I understand that HARP and HEMP programs are out there but, for FHA loans only. HELP!!January 22 2013 - US00YesReport 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.