I received a loan modification that dropped my interest rate from 7.25 % to 2.3%. I also received an interest free loan to pay back the five month arrears mortgage payments including my escrow account that doesn’t have to be paid back until the mortgage matures or I sell the home. This has cut my payment in half! The only requirement is I have to make the new payment on time for three months or it cancels and foreclosure will resume. As long as those payments are made on time for three months , the new loan terms become permanent. This sounds like a miracle but almost too good to be true. Am I missing something?!? I would appreciate an answer from somebody familiar with this program. Thank You!