Can I modify my fixed 0x30 loan?

[Mike]

I have a fixed 30 year mortgage with Indymac. We refinanced about 8 months ago when things started getting tight. We got a great rate, but used up all "existing equity" to refi so our DTI was in balance. Work got slower as I'm self employed, my wife stays home with our kids, and we've kept the mortgage current by borrowing from credit cards and long term savings. The value of the home has probably fallen about $100,000 in the past year as we're in Florida. I've called Indymac and asked what can be done but they said as long as I pay on time that their is no help for me. It's obvious we won't be able to afford this mortgage long term and are upside down now on it, wouldn't the government's idea of a 90% current value modification help this type of scenario? Thanks ahead of time...