Upside down in mortgage, want to upgrade to nicer/larger home. What are my options?Hi,I purchased my home for 179k in 05 (interest only loan, mistake 1), pulled out a refi (mistake 2) for 20k for renovations. So I'm in the hole for around 200k. Zillow's estimate for my home is 130k.I would like to move to a nicer neighborhood into a larger house (around 300k-350k prices) but I just don't know what to do with my current home.If I rent it, I would need to add $300-$400 a month to make the mortgage payment.I have been denied a refi at a lower interest rate.Is my only option for go for a modification? I am worried because I am not struggling financially that I won't get a second look.Help?Thanks,NickMay 27 2010 - North Gateway00YesReport 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.