If you are considering a loan modification, please take the time to research how they are properly done. There are many scams out there. In fact, the first stop for any home owner considering a loan modification should be the California Department of Real Estate web site where there is a list of loan modification companies ( some very familiar names) that have been given desist and refrain orders by the Department of Real Estate.
Two great resources to check out before you begin the loan modification process. The first is “Top 10 Questions about Loan Modifications” . The second is a video from Hope Now that tells what to look for when beginning the loan modification process and also provides contacts for counseling.