The desired result of a loan modification is to provide the home owner with a payment they can afford. If you are currently meeting your obligation, the lender will want to know why you will no longer be able to afford your current payment, but verify that a lower payment will still be feasible for you. The gentleman I referred to was able to work directly with his lender. You can pay a third party to work out a loan mod, or you can contact them yourself. Lenders are being very responsive right now, and a lot of them receive an incentive for loan mods completed. Best of wishes!
Here is a link for Loan Modification Frequently Asked Questions:
~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer
It is never late , even if you have Trustees Sale date set, to approach the Lender and request work out.