Can mortgage lender negate a signed contract?

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RCollin

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We signed a loan modification contract in February '09, our lender renegotiated our loan a provided a new streamlined Freddie Mac loan. We made our 3 month trial period pymts. (March 1, April 1 and May 1). We have made our June pymt and our July pymt. Now, today I find out from the lender that this loan has been negated and we will be re-reviewed for a new Obama plan loan. Can they do this? I have read the contract and I do not see any clause stating they can revoke or negate unless we default. And we have not defaulted in any form.

It seems to me they are re-reviewing trying to make more monies under the Obama plan.

Very worried in AZ.
Thanks
 
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