Smart SpendingSmart Spending  New program for 'underwater'
homeowners  The government has launched a program that actually
reduces mortgage principal.  By Stacy Johnson Sep 22, 2010
3:48PM    We've all watched as program after program rolls out
of Washington, D.C., for those hapless homeowners who can't make
their mortgage payments. And we've all seen or heard stories
about people who simply stop paying their mortgage and walk away
from their obligations.  Where's the help for the many
homeowners who continue making payments on a mortgage that
exceeds their home's value? It's finally here -- if you qualify.
According to a government news release, the Federal Housing
Administration's "short refinance" option is targeted to help
people who owe more on their mortgage than their home is worth
-- or are "underwater" -- because their local markets saw large
declines in home values. The program allows homeowners with
negative equity to refinance into a new FHA mortgage -- one that
would be less than the current va