The politicians are a lot more interested in the modification of mortgage loans than the lenders who made the original deals. I don't blame the lenders. Why should they be forced to revise sacred contracts? If somebody can't live up to a deal, they'll have to move out.
Banks are heavily regulated and they can't afford to look too mean so they're hiring thousands of people and firing up the immense paperwork necessary to revise mortgage terms.
Here's the things — banks don't own many of the mortgage loans they've made because they're already sold them. So you might be out of luck.