New to the Forums and this website. I have a lot of reading to do to school myself regarding loan mods and the possibility of Foreclosure. I have both a first and second mortgage with Wells Fargo. My home was purchased in Dec 2006 for $385,000. I had the typical 80/20 split and owe pretty much the same as what I purchased the home for. Over the past several years my overtime had been cut and recently in July my wife lost her job. She is not on the loan but we were living month to month and now it is impossible to pay our first mortgage. I want to avoid Bankruptcy and try and keep our home. My second mortgage payments automatically get deducted from my checking account. It is a interest only loan that WF would not refinance because my house is underwater. Its appraisd around $264,000 and I owe $385,000. My question is I am already one month behind on my first mortgage. I will definitely not be able to make my September payment on my first mortgage. I called WF and they are sending me the paperwork to start a loan modification. My question is should I stop making payments on my second mortgage in order for the Modification to be approved? Will this help or hurt my chances of geting a Mod? Also, if anyone has any WF advice for a home in Virginia that would be great. Thank You.