All about Loan Modification

Here is a new Post at Relieve Financial Constraint with Modification of loan.

Periods ago however when a lender can find that it hard or even impossible to make agreed regular refunding on their loan and this is where the modification of loan can help. The modification of loan is a manner of changing the terms …

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Here is a response on similar topic:-

How can I get qualified for a loan modification of a WAMU home equity line of credit?

They are not looking at your D/I. They are looking at your housing ratio. Modifications aren't generally given in regard to other bills, but to your total p & i payment, any escrow, home owners assoc. fees, etc; compared with your gross income. They will ask you for proof of any income reported. Most mortgage companies now qualify anyone with an H/I of >30%. They reduce interest rate on a temporary basis to get the H/I within an acceptable 30% H/I.

If you're H/I with honest gross income is <30% you're very lucky, and you don't need a modification.

Modifications are temporary, keep that in mind, and are meant for mortgage holders with reduced income, unemployment income, disability, etc., so that they can have 4+ years to sort out income shortages (hopefully!).

Be patient through the process. It's very tedious, and long, and frustrating. If you qualify they'll let you know.
Good luck!

FYI, here is a list of recently published Posts on same topic:-

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