I have a $700,000 1st with BofA (originally CW) that according to BofA qualifies for the national global settlement. I also have a $150,000 second with PNC. The fair market value on my home is currently $433,000, underwater is an understatement. Prior to the global settlement I was told by the bank that we did not qualify for any modification since my home is not a fha, fannie, freddie. I have never been delinquent on either loans. It is my understanding that I will not qualify for a principal reduction since I have never been late and the interest on a refi dosen't appear to be that great of an offer either. My husband will be forced out of his job in 2014 receiveing only half pay which will not cover the mortgage payment. We would love to keep our home since we built it ourselves in 2003. I wouldn't think that BoA would like the home back with it being so underwater. If the bank is unwilling to write down some of the principle or give us a very low interest rate we will be forced to walk away. Does anyone have any advice as to what we can do in order to keep our home? Are there any loan mods for our situation? Your help and advice would be greatly appreciated!