hI gunner02,
Welcome to the forum and thank you for joining............
What the new modification program is doing is making the payment on the first more affordable if it is currently over 31% of the gross income. If this is the case with your loan, it would not need to be backed by FannieMae or FreddieMac..............but the investor would need to be participating in the program............
here is the link to the guidelines to see if you would qualify.............
http://www.treas.gov/press/releases/...guidelines.pdf
First Horizon
Loss Mitigation-1st Mortgage:
1-800-707-9998
ext. 33805