Loan modification principal reduction
There are generally two different ways for a loan to be modified.
The first way is an interest rate reduction. Most people do not realize this, but over a 30 year mortgage the homeowner almost always pays more in interest than to the actual principal of the house. That is very depressing.
The second way a loan can be modified is through a principal reduction. Principal reductions can either be short term, you only have to pay a portion of the principal you should pay until your situation goes back to normal, or long term. Either way, this might be what you are looking for.
Talk to someone who knows what they are talking about when it comes to mortgages and loan modifications. It may take some of your time or money up, but it will certainly be worth it.