Depending on how underwater you are on your current residence there is a loan program called a short refinance. To be eligible for the program you have to be at least 25% underwater. There are a great many details that go with the program. Too many to mention in this e-mail but if you would like you can call me at 732-539-9300 for the details.
GMI Home Loans
Sr. Mortgage Originator 9838