I heard on NPR that mortgage brokers who made a lot of money during the housing boom are now making a lot of money doing loan modifications. How is loan modification lucrative? How do people get paid to do loan modifications?
Do it yourself. Most of the companies are scammers, take money and don’t achieve anything you couldn’t achieve yourself, and frequently achieve nothing at all. The companies collect up front money from the borrowers.
Call you lender and keep calling and asking about loan modification. Ask about how they are implementing Help for Homeowners. Persist.
Most loan modifications are only a reduction of interest rates or a change from ARM to Fixed rate loan.
http://www.2ModMyLoan.com Lenders profit while homeowners lose their homes. While searching I came across a list of articles and 4 out 6 were headlines of profit for lenders and Freddie MAC. It just is so disappointing that only 5 months after Obama’s Making Home Affordable plan homeowners are still not getting the home mortgage 
California Department of Real Estate Loan Modification Scam PSA. Beware of home loan modification scams and foreclosure fraud. Loan modification advice and