I just received this in the mail from my lender:
Select Portfolio Servicing, Inc. (SPS), as a servicer for your loan, has reviewed your account for the Obama Administration's Home Affordable Modification Program (HAMP). We regret that we are unable to qualify you for HAMP based on the information you provided to us. The reason you do not qualify is that you did not pass the U.S. Treasury Department's Net Present Value (NPV) test. The NPV test determined that the amount realized by sale of your property following foreclosure exceeds the amount that would be obtained through a modification of your mortgage.
Words absolutely fail me at this time.
I very well could be looking at foreclosure in the next few months.