This is my first time posting, but I have been lurking for quite a while. Thank you for all the great information. My Story, We have a FHA loan and started this process in Oct '09, got a 3 month forbearance starting Jan '10 which was roughly 31% of our income. We made 4 payments then was offered a trial mod 3 days ago which we were going to take, Then yesterday we got a phone call telling us to disregard the trial and that they were going to give us a perm mod! They reset our interest rate to 5% from 6%, our payments are about the same as our forearance saving us about 300$ per month. We are so happy to put this behind us! Thank you for all the great advise!