Loan Modification HELPI finally received my load mod paperwork from BAC after about 9 months. The question I have is that have added almost 20 grand towards my prinicple for past interest that I had defaulted on. They did lower my interest rate to 4.5%. So my new loan balance is now around 40 to 50 grand more than my house is worth. I just don't understand it. My morgage payment only dropped about 2 hundred a month. I just don't see where I'm saving. Does this make any sense to anyone?April 16 2010 - US00YesReport 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.