refinance underwater mortgage that are not HARP eligible, max loan to value ratio?

[Anonymous]

I am trying to refinance my mom's underwater mortgage.  It is not HARP eligible due to it being non Fannie or Freddie.  The best I have seen is a credit union at 97% loan to value ratio.  Has anyone seen better?  

[StartingOver10]

How far  underwater is she? What is the current value and the current outstanding balance?

[frugalQ]

you should contact your current mortgage company to find out what refi options you have.  Is the mortgage FHA?

in 2012, we refi'd our home even though we are underwater.  We did an FHA streamline refi which is a full doc loan accept they did not appraise the house.  the refi'd based on the loan balance.

i'm not sure if FHA still has that program, but you should check with your mortgage company to see what is available to your Mom.

[StartingOver10]

Yes, frugalQ is right and yes this program is available.

[Anonymous]

This was a non Fannie or FHA loan, can't do regular refi.  I guess I will deal with this after I see my taxes and close on my house so i know how much I have left