deeezldoc
I recommend you look thru the success thread on the forum, I don't think there actually has been a documented case of principal reduction yet on primary or any other homes. Investors that back the loans are not willing to approve principal reductions at this time. There are a lot of so-called "mortgage modification experts" out there trying to get business, I get called daily and get something from some kind of expert in the mail everyday, I have even gotten letters that look like it's official from the government ( fine print says its from xyz mortgage co.) since the credit market is frozen, unscrupulous mortgage brokers have now become mortgage modification experts. We obtained a successful interest rate reduction for the entire life of the loan ( a lot of lenders are currently offering 5-10 year fixes) using the service of Naca, a non-profit organization that helps anyone in trouble and is free, unfortunately you can only own a primary residence and no other property. heehoo22 works for Countrywide so she has the inside scoop on things, I would ask for proof that they have gotten principal reduction on any property, I think it should be illegal for companies whether legit or not to promise something that they know is not going to happen or at the very least has about a 5% success rate of happening. Good luck in your journey!
http://www.loansafe.org/forum/succes...ught-back-won/