Loan modification is a written agreement between you and your mortgage company that permanently (sometimes temporarily) changes one or more of the original terms of your loan to make the payments more affordable. If you can negotiate a substantially reduced payment, or even a fixed interest rate, this could be the option that provides the remedy you seek.
Do's and Don'ts of a Loan Modification
DRE Loan Modification Fraud Warning
Loan Modification Programs by Bank
Making Homes Affordable guidelines
Home Affordable Refinance Program 2
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