http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ Zillow Advice | Zillow Real Estate http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ If you are planning to sell your house soon, why don't you just investigate eligibilty for short sale rather than <a href="http://www.zillow.com/refinance/">refinancing</a> with a modification first?<br/><br/> Thu, 02 Jul 2009 22:46:00 GMT http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ 2009-07-02T22:46:00Z http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ A short sale would be a better option for you. Tue, 07 Jul 2009 14:50:00 GMT http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ 2009-07-07T14:50:00Z http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ Why do you need to modify if you are trying to sell? Opt for a shortsale.<br/><br/>Lenders don't modify because your value dropped. If that was the case do you think it should be ok for them to raise your rate or <a href="http://www.zillow.com/mortgage/">loan</a> amount if the value increases? Fri, 03 Jul 2009 01:26:00 GMT http://www.zillow.com/advice-thread/Can-a-modification-decrease-the-actual-loan-amount-Our-value-has-dropped-at-least-30/252281/ 2009-07-03T01:26:00Z