I need help with a Chase Mortgage Mod

[Mike]

I have a mortgage with Chase on my primary residence. It was originally intended as a short-termloan while my other home was on the market. the market downturn caught us with two homes. Our first home is selling shortly, but because of the downturn in the market, our new primary home won't appraise high enough to re-fi. I am looking to get a modification in terms with Chase. I spoke with customer care, the Mortgage Assistance Department and the Collections department. They are all telling me I can't get a modification. Here are the facts: Mortgage Owed: $255,900 Market Value of Home $250,000-255,000 Term: 30 years / Fixed Rate (paying Prin+Int+Ins+Tax+PMI) Rate: 6.625% P&I Payment: $1661.61 Tax + Insurance: $150 PMI: $238 Total Payment: $2049 State: Iowa I am not behind on payments now, and I've never missed or been late with a single payment. I would like to bring this monthly amount down a few hundred dollars, or I fear I'm going to have to go into foreclosure. Any thoughts or experience on whether Chase will work with me based on the info above? I appreciate any info anyone can provide. Thanks!