The FHA Streamline Refinance program
If you have assumed a FHA mortgage and are current on payments, the FHA will refinance the assumed mortgage even if it is “underwater”. There are no appraisals necessary and congress has recently raised the maximum mortgage limit you could have. Take a look at what the maximum loan amount for your area is @ FHA MAXIMUM LIMITS
Remember, the FHA does not make home loans. They insure them.