Here is a new Post at Elder Americans Seeking Mortgage Loan Modification.
Older Americans are having problems getting mortgage loan modifications to manage skyrocketing payments…
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Here is a response on similar topic:-
Is mortgage loan modification for real? I’m starting to get behind on my mortgage payments.?
Be careful. There are a lot of scammers out there. First thing to do is visit www.makinghomesaffordable.gov. This is run by the government and will outline the process and let you know if you qualify.
Not everyone will qualify for a mortgage loan modification. Loan modifications are designed to help people who can still afford to pay a slightly modified mortgage. It is not supposed resolve all troubled mortgages. Basically there are 5 requirements to qualify for a loan modification. They are:
1. The home needs to be your primary residence;
2. Your mortgage must be less than $729,750;
3. You’re having trouble making your existing mortgage payment;
4. Your mortgage was established before January 1, 2009; and
5. Your payment on your first mortgage (including principal, interest, taxes, insurance and homeowner's association dues) are more than 31% of your current gross income.
You don't need to pay a company to obtain a loan modification. However, sometimes it can be better to have someone, such as a lawyer or credit counselor, negotiate on your behalf. If you qualify, talk to as many experts as you can prior to contacting your bank. Many of these services will give you a free consultation. A good site I used was www.credit-hub.net/loan-modification where I entered some details about my current mortgage and the company got back to me multiple loan modification proposals. I ended up contacting the bank by myself, but knowing what was possible in advance helped me tremendously.
FYI, here is a list of recently published Posts on same topic:-
Owning An Apartment Complex, Worth the Risk?
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New Loan Modification, Short Sale Options
To Prosper Again
FTC Files Amended Complaint in Federal Loan Modification Law Center Case
I though that might be of interest 
Here is a news article on related topic:-
The Mortgage Professor Difficult Choices on Getting the Debt Paid
Our mortgage company says that we don't qualify for a loan modification and to come back after we are 60 days past due. Why is that? …
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