TweetIt's totally up to the financial institution, wheather or not to grant you a modification. Right now you shouldn't have to worry about anything if you want to keep your home.
There are a few types of mortgage mods also. You can defer the balance owed to the end of a re-written mortgage, while gettign a better interest rate, which is great because your payment actually goes down. You can do a payment arrangment where you pay (so much) extra per month to catch up any balance that's delinquint. Then you just go back to your regular payments once caught up.
If you're re-writing the loan, you might want to see if you qualify for a small home loan off the equity. "to fix some things, or update/upgrade things around the house"