If your property is negative by $100k or more you should seriously consider just short selling it. You may be able to buy in the same neighborhood within 1yr & have a mortgage balance that is much lower than it is now!!
The bank will ask you for min. 3mos P&L statements, along with min. 4-6mos bank statements. You probably originally purchased the house on a Stated Income program, programs like that don't really exist anymore, not for people with lower credit scores.
The bank will want to see that your new payment is 31% of your income & no more than 38% of your income vs. all of your monthly living expenses.