Home Loan Modification: Will I ever get it?

It has been a while, more than a month, since I applied for the home loan modification, based on Obama's Home Affordable Modification Program,  with my bank which has become notorious in delaying implementing the plan.

After a long time, a week ago, I found a voice mail left after 5PM  (Generally most of the businesses in US close around that time, unless the business is in Hawaii). It said, I need to call the bank regarding my application. Next day, I called the bank. Another representative received the call. But, she could not find anything related to the call or any progress in my case. Yes, they had mentioned that it would be a slow process and after they received the application, somebody would call.

But, if the person from the bank had called, it would have been mentioned someplace, I would hope.  So, is the bank hoping that I would walk out? And, perpetuate this foreclosure crisis? I am not a banker, nor an economist. But, according to my simple thinking, a borrower staying in the home and paying some interest is better than having to foreclose the house and put it in the market to rot for months and then sell for a lower price.

Well, may be  the banks have not learnt? What other explanation can we give to the banks slow in implementing Obama's plans? And, still distributing bonus? What other explanation can we give to the today's news  about a Wells Fargo Bank's foreclosure department guy living in that bank acquired home in Malibu of a borrower?

As an engineer, I would like to minimize losses and survive on my unemployment insurance, which in its entirety is going towards my mortgage. This mortgage is interest only till next August. My UI may run out pretty soon, as six months will be over in October. As I do not have any employer showing any interest, and as they generally stop hiring after October, my prospects of getting any job this year is almost zero probability, unless some miracle happens.

So, will I get my home loan modified by October, if at all? Else, do I set that month as the walk out month?