i was checking for good companies here in nevada i found just one with real license please call you lender and give him your real numbers some lenders do not want to take OBAMA'S PROGRAM, but i hear that new internal programs are for some private loans make sure that you call to righ department and they can help you with another program similar with OBAMA'S PLAN take 31% for you total GROSS INCOME example if you make 3000k x 31% your payment is 930.00 they reduce your interest rate to lowers to 2% or less some cases but remember some lender doesn't wants to do it....but look for help in maybe u can get good news
good luck....

Gentlemann,
First I would like to say I have seen very few pricipal reductions on modifications. Most lenders are lowering interest rates and possibly extending terms of the note to make the home more affordable for a monthly payment and possible forgive any missed payments. I would first make sure the company you are using is complying with new laws effective 10/1/09 that requires all loan mod companies to have proper license to do mods. Also most lenders are going by the guidelines of your payment needs to be no more than 31% of your gross income so that could also play a factor. You can always check the Nev attorney general website for helpful information.

Good luck.