For some time now I have been totally frustrating paying 6.5% every month on my mortgage payments. So I finally decided to do something about it this month. After making my July payments I decided to call my mortgage holders to see if I could get some relief. I first called Citi Mortgage. They determined that I had a Freddie Mac loan and yes, they could help me. They lowered the interest from 6.5 to 4.25% a month, a savings of around $300. a month. I then called GMAC and found out the same things a Freddic Mac loan but they could lower the interest to 3.99%! I was over joyed. Another savings of almost $600. a month. I then called Bank of America. Sorry, not a Fannie Mae nor a Freddie Mac loan so they would do NOTHING at all. I questioned several times, “there must some program they have for people like myself ” but that went nowhere fast. So, while I am totally frustrated with BofA, and I let them know when they sent me a survey, I am happy two of these were thrilled to work with me. The down side is they are so overwhelmed even with these streamlined loan modifications, they are taking 60-90 days. Bummer but worth the wait. There are websites you can go to to see what kind of loan you have but I found them unreliable. My suggestion is to call your lender directly to see if you have a Freddie or Fannie loan and if so, what they can do for you. This could mean the difference between losing or saving your home. You do have to be current with your loan and they do check your credit. You can be upside down on the loan to value so I really encourage you to make the call and see if your lender can help reduce your mortgage payment. The whole process takes about 30 minutes and you get the loan papers right away! This is know as the H.A.R.P. Program, Home Affordable Refinance Rpogram. Good luck, let mw know what your experiences are!