The truth is not all loans can be modified. On a pick a payment option loan your payment is going to go up when modified. The modification process is based upon lowering the P&I payment if affordable based upon income to debt ratio. If you can not make the negative amortizing payment you should consider selling. Most likely you have a deep negative income situation which the lender can not work with. Not all loans can be modified. Yours appears to be one of those unfortunate situations.
Peter T Siekierski
Vice President
H.I.R.E. FINANCIAL, LLC
Loan Modification, Debt Settlement Services & Legal Services
P:1-877-414-HIRE ext 101
F:1-201-426-2381
CNN: It is critical to have legal representation.
http://www.cnn.com/video/?/video/living/2009/04/16/gutierrez.foreclose.phone.cnn
ABC: Tried modify your mortgage directly with your lender?
http://abcnews.go.com/Blotter/story?id=6702731&page=1
