In Arizona, there is a program called Save Our Home, it is Federally back program that looks at your situation and can help you pay down your principal, or reduce your monthly mortgage payments.
Are you or someone you know struggling to pay your mortgage? Well there is help!! http://www.azhousing.gov/ There is a program that could help with lowing monthly payments, or perhaps reducing principal. Take a quick survey and you could get help! Click here to find out more!
There is a survey you must take to see if you qualify;
I hope this helps you or someone you know-- for further information to see the value of your home so perhaps you could sell it please contact me and I will be happy to go over your options.