It seems just like yesterday that we bought our new house, but it has been a year and the already low interest rates are now an entire percent lower. We were not looking to move a year ago, but like many others found a great short sale and couldn't pass up the opportunity. Even with the great deal on a short sale and the interest rates being low, we were able a year later to get an even better interest rate. Our house even went up in value with all of our improvements. If you have not refinanced lately, I highly recommend checking out the rates and possibilities. Our payment went down almost $300 a month!
If you are one of the unlucky ones who owe more than the value of your home, there is still hope for you: