I'm new to this forum. I've read quite a few of the threads posted and would like to know if someone can do a second modification within a year? My husband and I did a modification on our mortgage with Option One last March. At the time our interest rate was lowered to 5% for 1 year along with an additional $20,000 added to our mortgage. We were financially able to handle the mortgage. Unfortunately I didn't read the terms carefully and now our rate goes to 6% in March, 2009, for a year, raising our payment $150. The problem I have is my husband and I separated and I'm keeping the house with my 2 sons. I'm behind 3 months as of today - and called AHMSI last week and asked if I could do another modification? The rep said "no" not until March, 2009 and then I'd be behind 4 months. I'm on disability, receive money from a boarder and my one son, who works. I called Hope Alliance and they said keep calling AHMSI and talk to the loss mitigation dept. and tell them the terms they set up are not allowing you to keep the home. If I was able to do another modification, I wouldn't have any problems making the payments. HOPE said 3%/4% is realistic. The rep at AHMSI said this is hurting my credit and I said it's already in the toilet. Was reading the newspaper about what the House passed about CRAMDOWN - letting a bankruptcy judge set the terms of your mortgage. Do I tell AHMSI I'll file Chapter 13 and the bankruptcy judge will set the new terms. Fortunately I live in Illinois where it takes about 9 months to a year before a foreclosure would be finalized. Anyone with suggestions would be greatly appreciated.