Trish, check out this link: http://makinghomeaffordable.gov/eligibility.html

I am going through Countrywide/Bank of America, but I know most of the major lenders participate, as well as the local banks such as M&I. It is also been referred to a HARP refi. Just call your lender to see if you qualify. We did our primary home in MI, and were trying to do our rental in WI.

We are in this situation! Have a home in Stephenson, and want to get in on the low rates to refinance, but are afraid the appraisal will come in low. Does anyone know what the northern WI market is like? Our home is about $205,000 and we want to finance 150,000. I am having a hard time finding comparables.

Where is the "homes made affordable" thing you are talking about. I have never heard of that.

Thanks!

Appraisals are really difficult at present because of the ruling that the lender submits to an appraisal group, cannot pick their regular people. So, if you get someone not familiar with your area or who is extremely cautious, the value for your property could be well under its true worth. Rarely do appraisals come in high, that is not our market right now.