How can i refi this rental?

Hello,

My name is Wayne and this is my first and probably not last posting to this forum. I have read through quite a few threads and haven't found this exactly.

I am in the Navy and have been serving for 21 years. I found out about three years ago that I was going to transfer from California to Florida. Re-financing was an option I thought about not realizing the advice I had been given could have been a little better from my chosen broker. In retrospect I may have left things the way they were. But I bought the loan.

Now I am in Florida with a house rented in California that amount owed is right exactly what the estimated worth is. That's not too bad I guess. I have a great tenant that keeps asking if I am going to come back anytime soon because she loves the house. I keep telling her it may be a couple more years before I return.

My Great World Savings Loan, bought by Wachovia (and someday transferred to Now Wells Fargo as I understand) is going to be a son of a gun here in a couple of months. I contacted Wachovia and they informed me that "Oh yes we want to get ppl out of those loans from World Savings they were the ones that forced to go under and be bought out." Once I explained my dilemma they were " I'm sorry sir you don't live there and there is nothing we can do. If you still lived there it would be easy to get you the new loan" OK I don't live there, The NAVY made me move to better serve my great country, selling didn't see like a feasible option. I guess I gotta stay for the long haul.


Do I have any options? And can this be refinanced or I do have to try and keep things until I get back home?

Thanks for any input.