Before negotiating with a bank - you may wish to inquiry into this are of the law. It may give you a great deal leverage when negotiating a short sale
Mortgage ads may still be deceiving consumers, FTC says - MarketWatch: "CHICAGO (MarketWatch) -- Some of the mortgage advertisements currently appearing in Web sites, newspapers, magazines, direct mail and unsolicited email and faxes may be violating federal law, and on Tuesday the Federal Trade Commission said it was sending warning letters to more than 200 advertisers and media outlets informing them of the possible violations. Some of the claims made in the ads are 'potentially deceptive,' or violating the Truth in Lending Act, according to a FTC news release. The advertisements were identified in June during a review of claims that touted very low monthly payments or interest rates without fully disclosing other important loan terms."