Guys,
If you look at my comments on some other thread, I saw similar things with someone I know.
Their loan was modified so that they pay 30% of their monthly income for 30 years and the house is their.

So, instead of paying $4k per month for 26 years, they have to pay $2K/month for 30 years

Thats a sweet deal.
All financially responsible people get screwed here