No offense, but it doesn't sound like you need help, but you want out. If you have cash monies and want the bank to lower your debt obligation to match the current appraisal value and give you a lower interest rate when you can afford the current home payments, you seem opportunistic.... more
The Modification program is only for primary residences but the new "Home Affordable Refinance" is available for investment properties and can go up to 105% Loan to Value. The program is so new most lenders have not even rolled out the program. The refis are available for delivery after April 4.