[header] How to refinance an underwater mortgage [title] Check your payment history. [step] You must be current on your mortgage, and not have been delinquent on any payments in the last 12 months. [title] Find out who owns your mortgage. 
[step] You will not be eligible for harp if your loan is serviced by the federal housing authority (fha), the veteran's administration (va) or the department of agriculture (usda). [substeps] Make sure your mortgage is owned by federal home loan mortgage corporation, also known as freddie mac, or federal national mortgage corporation, called fannie mae.