Regardless of the type of mortgage you are currently in (i.e., Conventional, VA or FHA), there are programs that may allow you to refinance into a better loan with a lower rate and lower payment. For example: The HARP program is for borrowers in Conventional mortgages. HARP, in some instances, will allow you to refinance regardless of how underwater or upside-down you are.
Likewise there are Streamline refinances for both the VA and FHA loans that allow you to refinance without the need for an appraisal as long as you are already in a VA or FHA loan.
Click the “Rate Quote” button (above) to find out exactly what programs you are eligible for.