Way to Refinance if underwater, current, and non Fannie or Freddie?We are currently in year 6 of a 10/1 ARM 30 year mortgage. We are underwater with our mortgage by about 22% right now. The loan is not Fannie or Freddie, and we are current with our payments. Credit scores are good, and we make a decent income. Basically, we are looking to get a lower interest rate, get out of the adjustable-rate mortgage, and lower our monthly payment. Our loan is with Bank of America. Do we have any options?December 06 2012 - 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.