NO Options for Underwater Refinance HARP Ineligible Loans : As I completed the initial steps of the refinance process over the last few weeks, I had some uncertainty as to appraisal value of my home but thought that it was presently an ideal time to attempt refinancing as there were numerous sales in my area in the last XXXX months and at increasing prices. The actual appraisal value of my home completely shocked and disappointed me. The appraisal value indicated that I am severely underwater by almost - {$80000.00} XXXX 80 % of the appraisal value in relation to the unpaid loan amount ). Refinancing, if it happens, is going to be a hurdle because according to Wells Fargo, the least amount of cash I would need to bring to closing is approximately {$45000.00}, with private mortgage insurance ( PMI ) premium payments each month. PMI will most likely take several years before it is eliminated based on how underwater I am currently. 
I want to honor my debt with Wells Fargo but I also want take advantage of the lower interest rates. I want to remain and continue raising my family in my home in XXXX XXXX. I am employed. Thank XXXX. I have never been late on payments of any of my debts, including my mortgage. Thank XXXX. I have a very good credit rating. Thank XXXX. 
I know that I am not eligible for assistance under HARP, because my original loan is not XXXX or XXXX XXXX. I was informed that my loan was packaged and sold by Wells Fargo to XXXX and that there are no programs to assist me, although I am underwater. This fact is hard to accept because accepting this fact would lead me to believe the saying that the " nice gals finish last ''. This is a saying I am not willing to accept because I always step out on faith. I do n't think my issue is a unique one and I hope something can be done to help me refinance. 
I am writing to bring this to your attention and I am hoping to get some assistance as the window for me to refinance is closing. 
There should be some help extended to homeowners like myself who want to take advantage of the lower interest rates but can not because of having a underwater value to mortgages who are not HARP eligible because banks pooled and sold mortgages to private investors who have not done a thing to help since the housing market collapse. Some pressure should have been placed on these investors and help extended whether for HARP eligible or not. 
