Servicer will tell you if you meet their loan to value requirement. You must owe more than 90% of your home’s value. Your home must also be a single family residence that you are at least 90 days past due on. You can’t be in bankruptcy.

Servicer will look for solution that reduces your payment to 38% or less of your income by; extending the loan term, lowering the interest rate, or pushing back payments on the principal.

If it’s a go submit your paperwork and first payment. Make 3 payments within 90 days to lock in your reduction.