William Doom's Q&A

I would recommend directing this question toward the outfit assisting you they will best be suited to answer your question.  

@mrs w.I would suggest finding out if your current loan is owned by Fannie or Freddie. If it is ask the lender you are working with to try and qualify you with the REFI Plus program, this will help avoid PMI, if you do not have the equity to remain under 80%. Given your loan is an IO it may not be eligible. Give it a shot:http://makinghomeaffordable.gov/loan_lookup.html

I would first suggest checking http://makinghomeaffordable.gov to find out if your loan is a Fannie or Freddie. If one of the two own your loan you maybe eligible for a REFI PLUS which allows homeowners to refinance loans in excess of 100%.  If your loan is eligible I would then contact a local MORTGAGE BROKER NOT a BANK and let them know you would like to apply a REFI PLUS. It is important you tell them up front you researched it and your loan is owned by Fannie or Freddie and you are only applying for the REFI PLUS, no other loan. If that fails I would work on a a LOAN MOD directly with Chase https://www.chase.com/chf/mortgage/keeping-your-home (do not involve a third party). Chase is backed up, although if you are current and are not in jeopardy of defaulting then you should have not issue waiting for a response.

Lenders may not take the request serious or it is filtered out with a down payment of $100 on that size of loan. Increase the down payment and discuss options with the lenders that respond.

You can do a Title Search