Need Loan Modification with Litton/really need Cat's advice

[Joel Fraser]

My loan with Litton is set to reset July 1st it was /is a two year arm . I am current with my payments , I have made late payemtns but always by the end of the month and always paid the late fees ,so I have none of the "behind" issues . A friend of mine ( a loan officer ) got me this loan two years ago , at the time he and I both knew I would not be able to make the payment if it was reset and became higher , but he assured me I coukld refi with no problem before all that ugliness occured , he of course was mistaken ,and here I am alone and really worried . I need to do a loan modification , but am unsure where to start . Litton has a form on their web site ,do I start there , or is it better to call first . Do I need to do one of those QWR if up to today there is no "issue " with my loan . What info should I have ready ?What kind of balance or surplus should I be looking to achieve on my request form if I use the one on their site ?Should I use my net or gross monthly income on the form , they just ask " monthly income " but do not specify net or gross. Oh good grief I am a hot mess of confusion and questions :confused:. Please help .