how do mortgage modification workWe are so under water on our home by almost 100k, we have never been late or missed a payment. Due to wage reduction we have contacted our bank about a modification, they sent paperwork which we submitted along with everything they asked. It's been over 6 months and they haven't replied, we sent request for updates on our paperwork still with no reply. Our credit is below 620 due to credit cards that we are paying off little by little.We are in a no recourse state and are thinking of just walking away unless the bank agrees to modification.If the bank does reduce the loan, is the difference added onto the loan principle?August 30 2009 - Columbia00YesReport 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.