Lenders are modifying loans with principal reductions some times as low as 25% of gross incomeWe have succesfully obtained a few of the new Tier 2 loan mods. Two out of 4 are at 25% of gross income WITH principal reductions to 105% of cmv!I obtained one that the payment was higher but at 31% of gross income. This home is valued at over a million and the loan did not qualify for hamp. One with Bank of America, homeowner was initially denied several times and working with a different attorney who blogs a lot... We sent in a dispute and a npv she stopped her sale date and now has a mod at 25% of her gross income...Chase, loan mod at 25% of income, this is interesting because the loan balance is about $1 mil BUT the home is worth $750,000 or there about. saved $1557 per month lower than previous loan mod!!! obtained loan mod Dec of 11, but it didnt make sense the payment was 44% of gross income plus the lender added in the baloon payment to the loan amount which meant is was being charged interest twice!!! This was submitted at least 9 times as well as disputed blah blah blah. Basically, what I am saying is now with the tier 2 program we are going to see more home owners keep their home that is going to an investor who makes $100,000 or more off some ones horrible circumstance!October 02 2012 - Pleasanton00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.