Underwater Jumbo - $650K owed, estimated $450K looking to refinance, perfect creditI am a responsible veteran who through bad timing purchased a home in Palm Beach County, Florida in March of 2007. Since then our home value has declined to an estimated $450K from an original purchase price of $700K. Our loan was financed through a veteran based financial institution (non-VA loan) with a minimal down payment. Our interest rate is 6.375% and we are looking to refinance to a lower rate. We have perfect credit, high income (>275K annual) and have never been late on our $5K+ monthly mortgage payments since the inception of the loan. This is our primary mortgage and there are no secondary mortgages or equity loans. While everyone else is getting bailed out, since our mortgage qualifies as a jumbo and is not held by Fannie-Mae or Freddie-Mac, we don't qualify for relief under any of the programs that have helped countless of other less responsible homeowners. All we're asking for is a rate reduction. We're not looking for a short sale or to simply walk away from our responsibilities as homeowners. All we're asking for is a rate reduction equitable to the homeowners that are getting bailed out.If there are any mortgage companies or underwriters out there interested in refinancing a responsible veteran's mortgage with perfect credit and minimal debt please let me know. September 06 2012 - West Palm Beach00YesReport 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.