I have a friend who bought their home in 2006 from a relative. So they paid top price. They have tried 10 times to refinance and their interest rate is almost 7 percent. They have always made their payments and their jobs wages have increased but were always told by their lender and other lenders that their loan to value was too high which means they owe more than the house is worth.. At one time they talked about walking away from it. Everytime a new plan would come out from the banks, I would encourage them to apply. Finally, yesterday they finally got it done after 3 years trying. Their payments on this $270,000 home dropped $600 per month. Don’Blog Postst take no for an answer.