Loan mods are not generally “given away” and there are underwriting guidelines that apply which include employment, income, viability of maintaining the loan, etc… I just obtained a client who owns in Oceanside and she did a loan mod last year, and is now short selling.

What your friend should do is figure out exactly what they can afford and if a loan mod cannot bring them down to affordability, they should most likely sell. In the end it is most likely a moot point because it does not sound like they will meet the criteria needed for the loan mod. (which may be in their best interest given the rate of recidivism for loan mods)