Hi, best of luck on your endeavor. If you are upside down you would have to know what type of loan you currently have is it an FHA? If it is FHA one can refinance the current loan no problem. Is your loan a conventional loan? look into the harp or the harp 2.0 programs. These programs are initiatives started by the federal gov to help underwater home owners. Your loan would have to be a Fannie Mae or Freddie Mac loan, you may look for them via google under Fannie Mae loan look up or Freddie Mac loan look up. If you do refinance the property and plan to purchase another the lender for the new loan will most likely require that the property you currently have has at least 30% equity. If it does not the new lender may not like to make the loan. Again best of luck.