With the new programs now in effect, the Feds have finally defined a "responsible homeowner". This helps determine who can get goverment assistance in re-financing their home loans. Fed definition: "homeowners who are creditworthy and have shown a commitment to making the mortgage payments". If you meet this requirement the feds will back you with a 30-40 year new loan up to 105% of your "current home value". Hmmmm... even this definition could be hard for some homeowners, currently in trouble, to meet. And it doesn't even consider wheather you overpaid to begin with, made interest only payments, paid your property taxes or your insurance, kept up your home or many other items that most wouold say makes you a "responsible homeowner".