It appears somr things just ain’t fixable. 
Refinancing lifeline fails to reach most ‘underwater’ homeowners
Federal plan misses about 97 percent of eligible borrowers
By Renae Merle
Saturday, October 24, 2009
A seven-month-old government program to help homeowners with little or no equity refinance their mortgages has so far reached fewer than 3 percent of those targeted, with many struggling borrowers deciding that the benefits of a new loan aren’t worth the closing costs.
This lackluster performance reflects the difficulty of helping the growing segment of “underwater” homeowners – those who owe more than their home is worth.
Excerpt: http://www.washingtonpost.com/wp-dyn/content/article/2009/10/23/AR2009102303472.html?sub=AR