I agreed, search for "mortgage forum" and look for a forum with a lot of posts. Once there do a forum search for "mortgage modification", you will find a lot of useful advice from the pros. Then take what you know and call the lender to work out a loan modification for you.
Basically, what happens is they look at your loan and will determine how much they can reduce the monthly payments by. Your mortgage company will then send you the paperworks to be sign at the title company;these papers will get recorded with the country once they come back from the lender.
The good thing now is that your payments are lower each month. And don't worry ten of thousands of people are doing this on there mortgage now, it's very common.
Note: There are a lot of mortgage brokers turned loan modification consultants out there. Some are good and some are scams. Most of the info they use to deal with the lender is freely available online.
I hope this helps. You can visit my site for advice on taking the next steps Irvine Mortgage
PS. The site is non-lender and non-profit.
