Keep plugging away but Wells will want something for sure.If you want to keep the property and try a loan modification, talk to the loss mitigation department of Countrywide.

Second, the premise behind loan modifications are that people can afford a lower payment.

Loan modification (relatively unlikely on an investment property)6.

Tell him you have a friend that specializes in loan modifications and forebarences & that if you gave him their loan # he would talk to the loss midigation department for them.Then just call yourself with loan # & all your friends problems go away.Be careful though your friend & I've seen things like this before might feel alienated.

Even if your house doesn't get the loan modification I gotta think its lowers the bar on the market price for ALL homes.

There are 5 sections re Compensation to be paid to broker, and I've asked for modification to Sections A and B, to Delete C and D, and E Im okay with.

Short Sale Forbearance Agreement Loan Modification I want to help them, but not exactly certain how to other than the things listed above.

Loan modifications may include interest-rate or principal reductions.

Loss mitigation techniques include the following: Special Forbearance, in which the lender arranges a repayment plan based on the borrower's financial situation and possibly provide for a temporary reduction or suspension of payments; Mortgage Modification, in which the lender reduces the monthly payment and/or extends the term of the mortgage; Partial Claim, in which the lender obtains a one-time payment from the FHA insurance fund to bring the mortgage current; Pre-Foreclosure Sale, in which the borrower avoids foreclosure by selling the property for less than the amount necessary to pay off the mortgage, and Deed-in-Lieu of Foreclosure, in which the borrower gives back the property to the lender.

They should stay in the house and try to work out a loan modification or short sale with the bank.