I have a 5/1 ARM mortgage loan with 3 years until the interest only payment changes and the rate becomes ?

adjustable. I also have a HELOC. Together the loan amounts are more than what my house is worth now since the market has crashed. It was worth well above what we now owe on it just a year ago. My question is what to do with my loan situation. We are not having any problem paying our loans but I am worried that in 3 years when the loan term changes the house value will not be what we owe on it and a bank wont refi us. It was our intention to refi and get into a fixed rate before then. Of course this was before the market plummeted. Should I keep going the next 3 years and hope at least my house value has gone up enough to allow me to refi or try to do something about it now even though I am upside down?

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