We have several modifications going with EMC. So far EMC seems to be reasonable to work with.
Meanwhile, EMC is being sued.
A young couple came to us with a 7.0% negative amortization EMC loan. We were able to negotiate an interest rate of 2.0% for five years, 3.0% for one year, and then 3.875% interest for the next 25 years. The principal balance was reduced from $595,000 to $460,000. Read the details here: