Is there a mortgage loan company, that will refinance our home if the value is less mortgage balance?

My husband and I are in our 30s. We have a mortgage that is unbearable but we have manage to make the payment for the three years that we have had the home on-time. Our employment status has changed and my husband is the only one working. Our home value is less than the balance we have. We have good credit. Is there a loan program that can help us reduce our payment/rate? Our rate is currently at 11%. Are there any programs for minorities? Lastly, our mortgage is with HFC and they are dissolving but there mother company is HSBC. I called them re: the President’s Home Affordability Plan that was announced on 3/2/09. Per the website, I should qualify, but HFC said that they did not have any info on this yet and I would have to wait but it looks like I would not qualify. That does not seem right.
I hope this makes sense.
I would greatly appreciate some real help.
we purchased the house for 143,900 now the house is worth 135,000 and our loan balance is 151,000.

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