Making Homes Affordable Loan Modification Program

Has anyone had any experience with this? Or ability to pay the mortgage every month is dwindling as our savings is just about depleted. We got our house 3 years ago at 6.5% (which was great back then and a month before the first crash). I don't think we would qualify for a true refi as I am the only one with a steady job, so I was wondering about the this program. I am hoping that DH can find a steady job with UPS for at least the holiday season and we won't need this but its not looking so good. Any experience that anyone could share would be great. Thanks.

Re: Making Homes Affordable Loan Modification Program

We are upside down in our mortgage and we were able to refi under this program back in June. We qualified for the HARP loan and we were able to bring our mortgage down by a full percentage point, saving us $370/month. It was VERY easy. We just called Chase (they hold out 1st mortgage) and everything was done over the phone, they sent out paperwork to sign, and we were all set. Very minimal closing costs (maybe $3-4K) which was rolled into our principle. Just call your bank and speak with them, it's generally an easy, streamlined thing. Good luck!