Are there any options for people that got into an

[soccerpeoplefrogs]

adjustable rate mortgage and there home appraises for less.?

[CandKM]

There are options but they are probably not what you want to hear. I am going through the same thing right now. Your first option is to do a short sale, meaning you will take less than what you own on the house. The mortgage companies will not even talk to you until you have a buyer but that is one option. The other is to walk away from the house. The other is to into foreclosure with the house. Either option is not the greatest

[Wendy S]

Aside from getting a second job? Not a whole lot. But if you have been faithful and on time (meaning early) with every single payment up until now, you might have a shot with your same lender. Is you home appraing for less than you owe? Or is the appraisal about the same was what you owe, making it impossible to get an 80% loan? If it is the latter chances are you can get a loan at 100% if you spring for the PMI, and you have great credit.

[rm9]

You can check w/ maybe Countrywide and see if a 125% loan will work for you. ??

[Vick Masterson]

In this situation you cannot refinance and must either pay the mortgage off or get rid of the home. You have a few options on how to get rid of the home. Foreclosure, Short Sale, Deed in Lieu. Hopefully you are familiar with foreclosure and short sale so I will discuss Deed in Lieu.A Deed in Lieu is a process in which the bank takes hold of the deed on your property and skips the foreclosure process. This has benefits on both sides of the deal. You benefit from avoiding foreclosure and the bank benefits from the money and paperwork it takes to claim your home. They are rare, but they are an option you must check out. I would advise you to speak with a representative from the bank and discuss the matter.I am a Realtor in Michigan