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Criteria for Home Loan Mod

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I need a definitive answer regarding the criteria needed to do a home loan modification under the Obama guidelines. I know that our mortgage is about 50% of our monthly income but I've read that one needs to have an FHA home loan to be elegible. Then convesely. I have read that you do not need to have a Freddy Mc or Fanny Mae loan to be elegile. What is the real answer here?? There are loan mod firms specializing in helping people with their home modifications, but I cannot trust that they are giving me all the info necessary as they charge a hefty amount to get your financial packet together, (stand to make a decent amount), so I am asking an attorney. What are the requirements and criteria for this modification as we have sustained a large blow to our income and we desperately need to modify our loan amount so as to remain current on our home mortgage and taxes. Thanks for your help


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