Legal Question in Real Estate Law in California

Maybe. That is a business matter between you and the lender, not a legal issue.

You can't compel your lender to deal with you on this. The Constitution provides that Congress cannot pass a law modifying the obligation of contracts, so there's no law requiring mortgage lenders to negotiate better deals with borrowers. Nevertheless, most lenders recognize that modifying loan repayment terms can be a win-win proposition. The lender would rather be paid a little more slowly or accept a lower rate of interest or even a reduced principal amount than to foreclose and probably get stuck with a property it cannot sell for anywhere near what it was owed. You just have to contact the lender and start bargaining.

Under all of the federal loan modification programs, the lender is given the right to refuse loan modification, even if the homeowner qualifies. Many of the loan modification that you hear about are scams, in one way or another. Some involve people taking money for loan modifications and then not doing other work. Other scams involve loan servicers who induce homeowners to willingly default under the pretext of working on a loan modification, only to foreclose and mislead the homeowner. I would approach this with caution.