Is there a way for me to modify my current mortgage?I am currently upside down on my current mortgage (much like everyone else). I owe roughly $185k and the home's value is $155k (and declining daily it seems). I have been looking to sell and move into a larger home for the last 1.5 years, but cannot afford to pay the $30k to get out of the loan + realtor fees, + down payment on a new home + closing costs, etc. I have excellent credit, little to no debt (other than my home), and have no issues paying/affording my mortgage. My current loan is not owned by Freddie Mac or Fannie Mae. Is there any way that I can modify my mortgage to reduce what I owe down to current market value?July 10 2010 - Cumberland00YesReport 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.