Hi, I have been reading a couple other threads in the Countrywide forum, and if I am understanding it right, they aren't as yet doing principle reductions. Should I just take that whole bit out of the hardship letter (reduce principle from $700K to $650K)? Should I even make a request for what kind of modification or leave it generic and let them offer me something? My most important point (and what will allow me to afford the payments) is to change to a Fixed rate from a Neg Am/Payoption ARM and interest only for 5 years. I haven't sent anything in because I am worried of saying the wrong thing and then ruining my chances for any modification. I also read where you posted the Streamlined modifcation Guidelines and that said only people who were down 120 days qualified whereas at this moment I am current on my loan. Am I just wasting my time trying for a modification unless I'm behind? (Which I am going to be in January). Thanks again for this site, there is so much info and this has been a wonderful resource. I'm sure it's a ton of work.
