i did it by myself on Sep. with my Santander mortgage but they didn't lower my rate just extended it for 40 years. I'm wondering if and how they would lower my rate.
Interesting. So it seems like they are doing things similar to what they did in the Making Home Affordable days.
Regular MHA waterfall was lower rate first, then extend, then apply forbearance of up to 30%.
Then there was HAMP tier 2 which was applied to non primary residences which had a different waterfall. I don't recall the details at the moment but can probably look up my records for the process.
We always tried to present a case which would result in the most favorable modification(s). My favorite was when there were multiple properties and multiple loans. It was a puzzle and art of knowing the right order to apply for the modifications in order to get the best possible outcome.
Back then I had an excellent assistant who knew excel well and was able to properly model the modifications almost to the dollar.
ETA: Here's a presentation of the various standard modification waterfalls and procedures. Extending term without interest reduction is non-standard modification.
https://www.hmpadmin.com/portal/learningcenter/docs/presentations/mhaservicerwebinar_stdaltwtrfall_presentation.pdf