Proactive modification?

I live in California and though my property lost a great deal of value on paper over the last year, it seems to be going back up. It is in a great area and it is a fine property. That said, I have a first and an equity line on it. LTV right now is about 63%. I am self-employed. The first is 4 yrs. into a 10 yr. fixed interest only that will convert to a 20yr. adj. The EL is well, adj. It has about 7 yrs. on the draw and then becomes 20yr. adj. In other words, I have time, but do I? The Bank gave me a far greater line than I asked for but I did not turn them down. I used it unwisely during these past years. I am paying very low interest only now, but can see interest rates rising over the next few years and I will reach my tipping point pretty quickly. I would like to combine both loans to a single, 30yr. fixed for security and peace of mind. This would amount to a conforming Jumbo. I tried refi. with my bank, BofA, but was denied due to too high of a debt to income ratio. By the way, they let me into this mess via the old stated income route. Right now, if I were able to get a loan, it looks like rates would be about 5%+-. This would be too high a monthly payment for me. 4% to 4.5% would be possible, if I could get it. The problem with a modification, if that is what I need, is that you have to be in or near foreclosure, behind on your payments, etc. I am none of that now. I pay, I never miss, my credit is excellent, etc. and most importantly, I really want to stay in this property. I have been here 31 yrs.+, I built the homes on it and I do not want to lose them. Is there a way to be proactive in modifying this situation? I do not want to become a problem, but I am one waiting to happen. Thank you. Mark