Legal Question in Real Estate Law in California

I know with that kind of debt burden and the low interest rates supposedly available today that it must be cery tempting to refinance. Unfortunately, along with low rates have come very demanding and suspicious lenders who want borrowers to have significant equity (20%) and good income and credit scores. On the fortunate side, you have five years (perhaps) to shop for refinancing and perhaps come up with a way to reduce the balance you need to borrow or put more equity into the mix. One suggestion would be to take all your documentation to two or three loan brokers in your area to see if they represent any lenders who'd be interested in your particular situation (principal sum needed, appraisal, income, credit rating, etc.). My sense is that the refi loan market is pretty unfavorable for borrowers who are significantly "under water" right now, but local brokers might be able to help if your income and credit ratings are favorable.