Under normal situations I would say no. But I would call you lender and see if you might qualify for one of the incentive based programs the government has put in place for the thousands of home buyers that in your situation due to the recent downturn in the economy. Best of success to you.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
It depends on who backs and services your loan. Is it FHA or Fannie Mae or Freddie Mac backed? If so you are probably eligible for an FHA Streamline refinance or a HARP 2 Loan refinance. The link referenced below will ask some basic questions about your property and loan and a refinance mortgage specialist will get back to you quickly.