[LHarveyMadman]

I never found out who the investor was on my loan. At the time of the modification, I was not running a deficit, but when the interest rate resets and the principal is amortized over 25 years, it would result in a deficit. I can't recall the exact number (I had factored in probable pay raises and future expenses), but it was somewhere in the $300-$600 range.

If B of A determines that even with a modification your parents may not be able to make their payments, then they might deny the modification. $1600 is a pretty massive shortfall, and it might be hard to find a modification that drops the payment enough. But it doesn't hurt to try. Good luck.