Loan MOd with First Federal of Los angeles

[tc4gold]

I applied for a loan mod with First Federal of Los Angeles on my home which also has 2 rental units with it both rented and I took in a roommate to help pay expenses.
FIrst Fed says I don't earn enough to go into a fixed rate mod, they say they are not participating in any government programs and don't have to.

They said they can do one of the following if I can prove I can afford it:
an adjustable interest only loan at 3.75% (no fixed term to it)
a 5 year fixed at 5.5% interest only
I have to be at 50% DTI to qualify for any of their programs
They won't do a modification until all the last of my short sales/Deed in Lieu is finalized.

The whole point of a loan mod is to get into a fixed affordable rate not another adjustable, I need the security of a fixed 30 year term so if don't get permanent employment at least I know what bills I have to cover each month and can plan accordingly. My current loan is a monthly adjustable of interest only which today is low but who knows what it may be 3 months from now.

Has anyone got any advice on how to deal with them or should I get an audit done on my docs to try and prove predatory lending to see if that spurs them on?
Anyone got any info on why they are not doing the Obama plan and if I have any other choices now my credit is shot?

PlEASE HELP, ANY ADVICE WILL BE APPRECIATED