Can Homeowners with Under Water Mortgages Refinance?

I give consultations on Government Home Loan Programs. I advise on how to use these loans to Buy and Sell more homes. Many of todays home buyers are first time home buyers; will have limited funds to put down and will have no money for needed repairs or desired up-grades. Many will be younger and will have marginal incomes. The USDA Loan and the FHA Loan are designed to address these issues. The USDA loan offer 100% Financing while the FHA 203k loan program is attracting a lot of attention from the more sophisticated buyers of aging and bank owned properties.