I'm starting this thread at the suggestion of cahomeowner, who thought it might be helpful to those members who don't have the time to read through pages and pages of comments in search of a success story.
If you're curious which strategies have worked, and what the circumstances were for those individuals, you will likely gain value from this thread.
I've read on these boards settlement success at prices ranging from as low as 2 percent of the balance (unusually low) to about 40 percent of the balance (very high). Typical settlement prices seem to be running in the range of 5-10 percent of the loan's balance.
The challenge is those posts are spread out among many different forums and threads.
Hopefully this thread will help consolidate those stories, and will thereby facilitate a member's personal choice of his/her own negotiation path.