<prompt> Human: hey all, im underwater with my home and wondering if refinancing would be a viable for me. i know nothing about finances and stuff. complete noob here. i use to have good credit, 740-760, but after a messy divorce 1-2 years ago things have changed. she left a huge credit card bill for me and the mortgage. she did all of the finances so paying bills and stuff was all new for me. granted i slipped initially. ast forward to now, ive got a pretty good grasp on the bills and spending. in the past everyone told me i couldnt refinance due to being underwater. im not sure if things have changed now.my home purchased brand new and had two mortgages since day one.first loan:Loan type:30 Years ConventionalCurrent rate:5.875Current principal balance:280,000Remaining term:23 years, 10 monthsabout 2090monthsecond loan:Loan type:Conv 2nd Adj Rate MtgeCurrent rate:1.000Current principal balance:36,000Remaining term: 39 years, 1 monthsabout 100monthi do all of my banking and mortgage stuff through bank of america. i have my checking,savings,car loan, and mortgage with them. they offered some assistance after the divorce through some hardship program, which lowered my interest rates down to the numbers ive listed above. i think my initial interest rate for the first loan was 6 and the second loan was at around 8according to the agreement, this interest rate is going to increase incrementally over the years. during this bank of america hardship assistance program, they pretty much KILLED my credit to about 640. during the program duration, they decreased my monthly mortgage to about 2080 from 2140, which wasnt much help. but essentially reported that i had paid the mortgage but a decreased amount, and thus my credit score dropped. THAT part i didnt know about. the 60 differential isnt a lot, and it definitely wasnt worth me taking a hit on my credit score. i get a lot of mail and emails regarding lending firms that want to help me, but not all of them seem legit so im really confused on who is really able to help me or not. ive been doing fine with my payments of both loans. i just figured there has to be a better way. my overall goal is just lower my monthly mortgage so i can put more to savings. ideally, id like to get my mortgage low enough so i can pay extra to it AND put some to savings each month. ie if my mortgage was 1200, id pay 1500with 300 going to principal and then i would be able to put 500 into savings. thanks all!  <response>: You may be able to refinance an underwater mortgage if you qualify for the HARP program. More information 